The purpose of taxation Essay Example | Topics and Well Written Essays - 1000 words

The purpose of taxation - Essay Example He purchased this business from another owner in July of that same year. The business's total market value metes between $275,000 and $330,000. A potential buyer, Margaret, was willing to purchase the business and relieve the fiscal duties from Mr. Smith's hands. Peter Smith grew anxious because he will be charged by the capital gains tax and he tries to make every effort to avoid selling the property earlier than June 30. Margaret negotiated with Smith to purchase the business with a deposit of $33,000 and finish the payment with a settlement and installments. Under the negotiations, Peter is required to provide vendor's finance to Margaret. When the final installment was paid, Peter Smith had a net gain of about $10,000 (based on its property's highest market value). Because Mr. Smith provided Margaret with vendor finance, he is liable to increase the sales price, earn interest, and may acquire an interest in Margaret. (http://www.investorwords.com/5844/vendor_financing.html) Under CGT (Capital Gains Tax) reforms of 2006, all income arising from Australian sources are subject to income tax. The sources that are taxable range from real property, company, trusts, and land. In addition, gains acquired from a sale of a company on the premises of Australian real property are also considered a source. The Federal Government of Australia passed the reforms to mitigate the Australian CGT base as it applies to non-residents who possess a concrete interest in Australian entities. The CGT reforms will expand the Australian CGT base because it concerns non-residents who dispose of interests in resident or non-resident entities who se worth is irrefutably linked to Australian real property. An unregistered resident was previously only subject to Australian CGT on gains made in respect of assets that had the necessary connection with Australia. Such assets included land and buildings located in Australia, shares in Australian companies or trusts and assets used at any time in carrying on a business through a permanent establishment in Australia. Since Mr. Smith business resides in the country, it is subject to those rules. He will have to pay a property tax on the foreclosure of the business. Under Australia's double tax agreement, Australia has the right to tax the profit on the purchase of Australian real property regardless if the person is not a resident of the country. If Peter Smith is a non-resident, he will be taxed under the precepts of Taxable Australian Property in a few categories. The federal government will tax the estate based on principles of Taxable Australian real property. It must be a CGT asset that has an indirect Australian real property interest and is not covered by a CGT asset that addresses the disregard for profit or deficit after the relinquishment of his or her citizenship of being an Australian. Another aspect is should that real estate has been used for fiscal affairs and transactions and not covered by Taxable Australian real property and indirect Australian real property interest assured on t he Income Tax Assessment Act of 1997, it will be taxed. Furthermore, the purchase of Mr. Smith's property may be considered as an "indirect real property interest." That is, a membership interest at least ten percent in a resident or -as in Mr. Smith's case- non-resident quiddity where

Gendered Communications and Relationships Essay Example | Topics and Well Written Essays - 500 words

Gendered Communications and Relationships - Essay Example We are experiencing both physical and emotional intimacy, as long as being characterized by some levels of passionate attachment. In this relationship, the gendered nature is always dominating in our daily life activities. They are specific roles that me as the man I do play, such as security during outings and spearheading in different actions we want to participate in. When clearing our bills, I have to come in fully, or I have to chip in some cash so as to protect the image of my manhood. There are other roles that my partner, particularly plays in this relationship. She does laundry, prepare our meals, cleaning and preparing some items ready for my different daily functions that I attend to. Nevertheless, the roles are not too fixed and in case anything we allow flexibility in undertaking this role. For example, when she is unwell, I step in and perform her roles, such as cooking and laundry. The same also applies when am unwell, and she is around. The gender and sex characteristics have always played a part in the communication taking place between us. When it comes to launching an event or activity that always require some level of masculinity, am the one who starts the communication. For example, when we want to install some electric equipment in our room, am the one who raises the issue first, and the dialogue picks up. There are some of the most feminine issues that she is the one who dominate in when making decisions (Guru, 2014). She is the one who always communicates more with the kitchen and another dining activity. She brings a lot of her ideas when it comes to different types of utensils and cooking materials that we should put in place. This is mainly because all the activities in the kitchen lie under her roles. In this relationship, the feminine characteristics have been enjoying some benefits. She always enjoys the benefits that I offer to her as the man. When it comes to