Henry told us in his guide to the Institutional Framework of Taxation in Australia that the Australian Taxation System is one of the most complex in the world and is made up of approximately 125 taxes including taxes such as Income Tax, Capital Gains Tax, Fringe Benefits Tax and Goods and Services Tax just to name a few. He also mentioned that there are many different organisations that play different and varied roles within this system to ensure its integrity and all Australians are equally treated with equity. Deductibility of Work Related Expenses for Employees.
The Australian Taxation System is embedded in the way of life for all Australian taxpayers, we pay tax on our income, we pay tax when we purchase goods and use services, we pay tax when we sell assets and this is just to name a few but in return the Government provides services and benefits e.g. hospitals, schools, defence, and financial assistance to those in need etc. Deductibility of Work Related Expenses for Employees.
As we know the government relies very heavily on the revenue from taxation to be able to finance its activities and services it offers to the public and reforms on taxation are often a focus of governments. An area of taxation reform that is currently being reviewed by the Government is the deductibility of work related expenses for employees and introducing a standard limit for deductions based on the system used in other countries eg UK. It has been an area of discussion for a while now in Australia, with some arguing it should be introduced as it will save the Government billions of dollars and simplify the taxation requirement for many taxpayers who are employees only.
This assessment requires you to review this topical area of taxation (reduction of work related expenses to a fixed dollar value) which has been playing out in the media for a number of months now as per Part 1 and Part 2 below.
Review Australian newspapers such as the West Australian, Financial Review, The Australian, Sunday Times and various others for articles on the area mentioned above. You need to find 10 newspaper articles which will be handed in with your assignment. The articles should be from 2016 or 2017 only. If you do not have access to Australian Newspapers then you may use the Factiva Database within the Curtin Library. A factsheet on how to use this database and a short video presentation is included in the assessment link for this assignment on the Blackboard. These newspaper articles must be scanned or saved as PDF files and uploaded to the Blackboard in the appropriate area within the assessment tab. Please Note we will not accept links to the articles. Deductibility of Work Related Expenses for Employees.
After reading newspapers and looking for the articles on the subject of limiting work related expenses to a standardised dollar amount and the debate being carried out in the public arena by political parties, lobby groups and the general public, you should have started to develop your own view on the concept of limiting work related deductions to a fixed amount. Deductibility of Work Related Expenses for Employees.
For this area of the assessment you need to explain
- What work related deductions are within an Australian concept and what are some of the most common ones taxpayers who are employees claim
- What the benefits and disadvantages are of the proposed plan to fix a standard amount when employees want to claim work related deductions.
- What is your opinion of this plan eg is a good thing or a bad thing, should the government make changes to it or leave it alone, who do you believe benefits from it if changes are made. This area is based about your opinion so you need to ensure that you give us your own personal views of the topic and not a summary of the articles you have collected in part one of the assessment task. Deductibility of Work Related Expenses for Employees.
The requirements of the assignment for part two is to produce a 1000 to 1500 word essay on your opinion of this topic which should be based on your findings from the Australian newspapers you have collected and any other research you may want to undertake, please do not just provide a detailed summary of the articles you have included in Part 1
The word limit does not take into account the cover page or references and we will allow an excess of 10%.
Criteria for Marking Assignments
This gives you an idea of what we are looking for when marking the assessments
Cover Page (make your own up)
Unit Title, assignment number, due date
Lecturers name, Student name and ID
Contact Address and Email Address
Introduction to assignment
Content of body (detailed)
Conclusion to assignment
Appropriate sentence structure
Correct grammar, spelling and punctuation
Appropriate use of language
Paragraph sizes appropriate
Font size readability
Appropriate line spacing
Appropriate headings and sub-headings
Evidence of appropriate reading on the areas required
Shows an understanding of the topics
Shows conceptual understanding of the issued involved in the assignment
Shows ability to analyse the issues involved in the assignment
Shows ability to convey to marker an understanding of the issues
Shows an understanding of the legal issues involved
Shows an ability to think broadly
Includes understanding of relevant legislation, rulings, etc
Includes all relevant documentation and attachments that is required within the assignment to back up theory
Refers to sections of legislation (where appropriate)
Refers to legal cases (where appropriate)
Uses correct method of citing legislation and cases
References appropriate and current
Uses references to identify sources of information and acknowledges such sources
Bibliography at the end indicating materials read/used
Assignment Submission Process
Please read the submission process carefully. Students should understand that compliance with instructions in relation to an assessment task is critical. Students MUST be aware that non-compliance with these instructions can result in a mark of ZERO. Deductibility of Work Related Expenses for Employees.
All assignments must be submitted by 11.59pm (western standard time) on the Monday of the week the assignment is due.
Students will also be required to submit their assignment to Blackboard. The assignment will automatically be submitted to the plagiarism detection programme, Turnitin. Deductibility of Work Related Expenses for Employees.
What is Turnitin?
Turnitin is an electronic text matching system that compares text in a student’s assignment against electronic text on the Internet, in published works, on commercial databases, and in assignments previously submitted to Turnitin by students in universities all over the world, including assignments obtained from ‘paper mills’ (Internet sites which sell student papers). Deductibility of Work Related Expenses for Employees.
Students and Turnitin
Turnitin is a fantastic resource to assist students with their referencing. Students are given the option to submit a draft assignment into Turnitin (via Blackboard) to retrieve an originality report of their assignment. The originality report is a tool to help locate potential sources of unoriginal work in submitted documents by highlighting similarities between the submitted text and the data in the Turinitin database. Deductibility of Work Related Expenses for Employees.
Submitting a draft assignment and reviewing the originality reports provides students with the opportunity to ensure their assignment is referenced appropriately, and to make any necessary changes.
Please note that the similarity percentage that an originality report generates is not a measure of plagiarism, provided students have referenced the relevant primary sources which they obtained their information and ideas from correctly. Deductibility of Work Related Expenses for Employees.
Deductibility of Work Related Expenses for Employees
The taxation system in Australia remains one of the most complexes in the world. It has approximately 125 taxes that include income tax, capital gain tax, fringe benefits tax, good and services tax, and many others. These taxes apply differently to people and organisation. However, the Australian taxation system is undergoing changes with time (Chung 2017b), including expanding tax brackes for new ventures like shared riding (Elsworth 2017). One of the proposed changes is in the area of deductibility of work related expenses for employees, with an aim of adopting a standard limit for deductions that will be based on a system that is used in other countries like New Zealand, UK and others. This move is aimed at saving the government billions of dollars. It will also simplify the taxation requirement for employees. It will also create fair taxation regime. However, there it may also pose challenges because some expenses are mandatory in the course of work. This essay reviews the merits and demerits of this move, and gives personal opinion on the way forward…….
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