Jake Smith is an Australian resident and, also, one of your clients. Jake has the following events during the year. During the entire 2018 income…

Jake Smith is an Australian resident and, also, one of your clients. Jake has the following

events during the year.

Haven’t Found The Relevant Content? Hire a Subject Expert to Help You With
Jake Smith is an Australian resident and, also, one of your clients. Jake has the following events during the year. During the entire 2018 income…
Post Your Own Question And Get A Custom Answer
Hire Writer

1. During the entire 2018 income year, Jake worked for MD & A Architects. Jake was

provided with his PAYG Payment Summary for the period 1 July 2017 to 30 June

2018. Gross salary was $86,000. PAYG tax withheld was $19,820.

2. Jake uses his car for work. Jake was reimbursed for 6,000 kilometers travelled during

the year at 75 cents per kilometer. PAYG withholding of $1,500 was deducted during

the year.

3. Jake earns interest of $100 during the year (gross). Jake did not provide the bank

with his tax file number.

4. Jake received an unfranked divided of $3,500 on 18 June 2018. Jake participated in

a dividend reinvestment scheme so that he received an additional 198 shares in the

company.

5. Jake purchased 1,000 ANZ bank share on 1 March 2015 at $22 each. Brokerage costs

on purchase were $50. Jake sold 500 ANZ bank shares on 1 June 2018 for $24 each.

Brokerage costs on sale were $55.

6. On 12 May 2018, Jake sold his “cricket bat” collection. This consisted of 5 cricket bats

that were signed by famous people. The great “Sahin Tendulkar” has signed one of the

bats. Ricky pointing had signed one of the bats which was worth considerably less than

the bat signed by Tendulkar. Jake purchased the bats between 1999 and 2004 for a total

cost of $2,600. He sells the entire collection for $900.

7. Jake failed to keep a log book but wishes to claim his Mazda 3 motor car if possible.

Jake’s diary notes indicate he travelled 7,420 kilometers. Total car expenses including

depreciation is $6,200. He estimates (has a guess) that his business percentage is

95 percent. Jake does not have a second motor car.

8. Jake owns a mobile phone which he uses for work. His mobile telephone call costs for

the 2018 income year totalled $1,400. Jake estimates that 60% of these calls were work-related.

Jake failed to keep his receipts and can’t provide any material documentation.

9. On 1 May 2018, Jake paid the invoice which he received from his previous tax agent for

the preparation and lodgement of his income tax return for last year. The tax agent’s fee

was $400.

10. Jake is not married and does not have health cover.

Advise Jake as to the tax implications of each of these 10 items and the impact it will have on

his tax returns. Students should quote sections of law where appropriate.

In addition, students should calculate Taxable income only (showing brief workings).

Why Hire a Professional Essay Writer from MyHomeworkGeeks

Quality Urgent Essays

Domyhomeworkk online platform provides the best essay writing service ever received elsewhere, thanks to our professional essay writers. Experience gained in the 10+ years of being in the assignment writing industry is also an added advantage.

Professional and Experienced Academic Writers

A lot is done to maintain us as the best essay writing service provider. Besides owning a degree from a recognized university, a writer must pass the rigorous tests we take them through before they are considered eligible to offer urgent essay help on our website.

Affordable Urgent Assignment Help

Who said a reliable website should not be cheap also? While it is human nature to associate prices with quality, that does not always work. At domyhomeworkk.com, we guarantee you cheap and urgent essay help without compromising the quality.

24/7 Available Urgent Essay Writing Service

Whether it is a ‘write my essay for me cheap’ or ‘edit my essay’ order you want to request, always feel free to reach us at any time of the day. Our experts work in shifts to ensure that you access urgent essay writing services at any time of the day.

Plagiarism Free Essays Online

The punitive measures that come with plagiarized content are so harsh, and we understand that. We consequently ensure to write each client’s papers from scratch no matter how urgent the essay is. To acknowledge borrowed content, our quick writer references and cites the work.

Wow Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.

Essays

Custom Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission and Business Papers

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Editing

Editing and Proofreading

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Coursework

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

Have a homework question? Get help from verified tutors now!