Taxation Treatment to The Issues

Carol McKendrick has engaged Tax Advisors Pty Ltd to advise her of all her tax issues that will arise from the documents provided in respect of the income year ending 30 June 2019.

Based on the following Case study (PDF 344 KB) a, your partner has requested that your team prepare a letter of advice to Carol McKendrick, which identifies all relevant tax issues that will arise, critically analyses and applies the taxation treatment to the issues—i.e. you will need to argue and support your view and consider differing views (if applicable)—and finally, indicates your recommended action based on your better view—i.e. your conclusion (IRAC principle).
Be sure to consider all issues, including but not limited to, issues that may not be as obvious—for example, tax accounting, tax periods, potential levies, surcharges, offsets and substantiation requirements.

You must ensure that your analysis used to determine your recommended action is fully supported with relevant authority—for example, tax legislation and case law.

The letter must not exceed 2500 words, excluding footnotes and the reference list. Assignments exceeding 2750 words (+10%) will not be assessed and you will receive zero marks (Fail grade). You must indicate your word count on the cover sheet.

If you need more information, ensure you clearly state what information you need and why it is required.

It is highly recommended that you begin categorising the list of transactions as a team and look at the assignment requirements in its entirety—for example, the various employment, business and investment issues—before assigning individual member tasks under the group contract.

Note: Assignments should be typed, one and half spaced, and on one side of the paper only. It is your responsibility to submit

Note: Assignments should be typed, one and half spaced, and on one side of the paper only. It is your responsibility to submit your assignment on the due date. It is recommended that you retain a copy of your assignment.
• Marks will be awarded based on the detail provided and correctness of the response. • Your team must apply the IRAC principle when addressing the relevant issues (i.e. l= identify the key issues; R= cite the relevant legislative provisions and case law (rules) where appropriate; A = apply the relevant rules to the facts presenting arguments for and against; and C = form a conclusion based on your stronger argument). • If your team needs to make assumptions when responding to any question, the assumption and the reason for the assumption must be clearly specified in your response.

Assignment overview:
You are a Graduate Tax Advisor, employed by Tax Advisors Pty Ltd. Your partner has assigned you the following client file after attending a meeting with the client.

Your partner has requested that you review the file in order to undertake the engagement work as agreed between Tax Advisors Pty Ltd and Carol McKendrick.
This assignment supports unit learning outcomes 1, 2 and 5.

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