Ionic Compounds Nomenclature Quiz

John O Sulliv Manifest Destiny - 1164 Words

Americans wanted to head west, this mindset was given the name of â€Å"Manifest Destiny† by John O’Sullivan. Manifest Destiny was a term that was prevalent during the 19th century. It expressed the belief that America’s mission was to expand their civilization across North America; this expansion would create liberty and economic progress through territorial gain. President Jefferson, Madison and Monroe, all collectively believed in the Jeffersonian’s mindset, these presidents encouraged such movement; they actively thought that it was best for the United States to expand coast to coast. This expansion created a cultural war. Manifest destiny affected the United States’ relationship with others such as Mexico and the Amerindian Indians because of the way they treated these individuals to gain land from them. Even though the United States made a lot of mistakes due to their beliefs in the manifest destiny, it helped the United States become an emerging world power. It helped expand and create jobs in the west. People used the Oregon Trail to move west and find a better living. Manifest destiny helped California become one of the most populous states after the gain of California as a state, due to everyone moving there because of the gold. The main positive effect of America s belief in manifest destiny is that was that America gained more land and was able to help bring America to the greatness that it is today. The problem with manifest destiny was that the Americans believedShow MoreRelatedJohn O Sulliv Manifest Destiny1779 Words   |  8 PagesEffects of Manifest Destiny Conquering this new foreign land was the plan for English settlers that sailed here and landed on to the eastern coast of America. After many years had passed, John O Sullivan, a democratic leader, named this progressive movement Manifest destiny in 1845. The term Manifest Destiny originated in the 1840s. It expressed the belief that it was US Americans mission to expand their civilization and institutions across the breadth of North America. Manifest Destiny wasn’t just

Roberson Free Essays

Tracy Morgan Intro- Public Administration (PA301) Instructor Travis Forbes Sept, 12 2011 There were a few elements I noticed, and reflected upon while reading William Robertson: Exemplar of Politics and Public Management Rightly Understood, that I felt he drew upon, to help him successfully run the Los Angeles Bureau of Street Services. Roberson utilized; people, place, physical technology, and personality, which were the specific elements that Gaus had mentioned. Let’s discuss how each event in Mr. We will write a custom essay sample on Roberson or any similar topic only for you Order Now Robertson’s life was important in reaching his goal, amongst the short term goals that were achieved because of his ability to lead. While reading Mr. Robertson’s story you could already grasp that he was a strong, yet influential leader, who believed through his military training, that you should lead from the front. Therefore be on the same level as your subordinates, so you can understand their needs, in order to meet and exceed them, for maximum mission effectiveness could be achieved with few discrepancies. He also furthered his knowledge, not for the sake of promotion, but to have a better perspective of what was going to be needed in the future, to perform better in his job on all levels. So in case a situation arose, he would not be thrown off guard, but have the ability to correctly assess, identify, implement, and evaluate the situation, on behalf of the public, and city. Being in a large city, such as Los Angeles, afforded Mr. Robertson the prime opportunity to shine, because he was always surrounded by all the elements, which included him walking into public council meetings that were normally full of disgruntled people, but with his ability to converse (or manipulate as some would say), thus leaving many of them thanking him. It could even be coined as a slight form of social technology. He was able to accomplish all this by informing and educating, the people, and council of his duties, so when barriers were put in place, he and his team could work together on empowering the public to make better decisions, or be better prepared for the political battles that would surely arise, for the need for funding was on the table. Roberson’s judgment alone ancelled out Arnstein’s ladder of participation by, inadvertently giving more power to the people with knowledge, and abilities. And as a result the council members showed a little more insight, and support to Robertson, than what they did to his counterparts, thus leading to him to develop physical technologies in paving neighborhoods with limited funding, and still not overcrowding the streets with workers. How to cite Roberson, Essay examples

Foundation of Taxation Law Taxable Capital Gains

Question: Describe about the Foundation of Taxation Law for Taxable Capital Gains. Answer: 1. It can be observed from the given information that Fred who is Australia resident for tax purposes has received capital gains from sale of his capital asset i.e. house. The objective is to determine the net taxable capital gains for Fred for the current income year. Fred has purchased the capital asset in March 1987 i.e. after September 20, 1985 which acts as the threshold date for application of CGT on the derived capital gains from sale of capital assets (Woellner, 2014). Discount method and indexation methods are the two alternative methods to determine the taxable capital gains (Barkoczy, 2015). Discount methods is valid for long term assets and provide 50% exemption on the capital gains and the other 50% would be used for levying of the CGT liability (Section 115-25) (Sadiq et. al., 2016). Indexation method is used when the cost base of the capital asset is adjusted based on the inflation rate differential between September 1999 and time of purchase of the capital asset i.e. September 1987. In such cases, there would not be any discount that is applicable on the capital gains derived (Section 114-1).(Gilders et. al., 2016). However, discount method would be preferable to determine the taxable capital gains. As it will provide a lower value of capital gains tax for the taxpayer as compared to the capital gains tax calculated from indexation method (Nethercott, Richardson Devos, 2016). In this case there is no inconsistency because the enactment of the contract and contractual payment made are in the same income year. The enactment of contract and the settlement of the requisite payment is not required to take place simultaneously for the recognition of capital gains but it should ideally be in the same financial year (Hodgson, Mortimer Butler,2016). The cost base is the essential element to calculate the net capital gains for the taxpayer. It is the cost calculated from the addition of actual purchasing cost of the asset to the capital cost and the incidental cost occurred in way of stamp duty, fees in legal formalities, advertising for the asset to find the potential buyer and the expenses incurred for value addition to the existing asset or in maintaining possession and ownership of the asset (Section 110-25) (Deutsch et. al., 2015). ny previous year capital loss would be accumulated in the current years capital gains. However, the nature of the asset should be similar for adjusting the accumulated capital loss against the current year capital gains. If the capital loss has occurred from different asset, than these would not be offset against the capital gains. In such cases, the capital loss would be shifted to next financial year (Barkoczy, 2015). Capital gains for Fred Acquisition price of house $100,000 Proceeds received from sale of the capital asset $800,000 Incidental cost during buying and selling (stamp duty + total legal fees+ commission) (2000+2100+9900) $14,000 Capital cost (cost due to building of the garage) $20,000 Cost base (Acquisition price+ Incidental cost+ Capital cost) (100000+14000+20000) $134,000 Capital gains (Receipts from sale - Cost base) ($800000-134000) $666,000 Capital loss accumulated due to sale of shares $10,000 Net capital gains (capital gains capital loss) (666000-10000) $656,000 Taxable capital gains based on discount method (50% of the net capital gains) (0.5*656,000) $328,000 Capital loss occurred from sale of Antique vase The net capital gains in this case would be different because this loss is from sale of the antique vase, which will not be accommodated against the capital gains earned from sale of the home and hence would be shifted to next year and will only adjust against the capital gains earned from the antique vase in the future (Gilders et. al., 2016). Taxable capital gains (50% of the capital gains) (0.5* 666000) $ 333,000 2. It is apparent from the information provided that Emma as an employee has potentially received fringe benefits on account of car, loan and bathtub. The relevant discussion in regards with these is carried out below. Car fringe benefit Fringe Benefit Tax Assessment Act (FBTAA), 1986, Section 8 tends to state that car fringe benefit would arise only when employer owned car is being used by employee in his/her personal use. In the given situation, the car owned by the employer is used by Emma for satisfying his personal needs and hence the employer has extended car fringe benefit to Emma (Woellner, 2013). Now that it is apparent that car fringe benefit has indeed been extended, the taxable value of this benefit needs to be established. One of the key inputs required in this endeavour is the gross up factor which varies with regards to the good being classified as Type 1 or Type 2. Since the car attracts GST liability, hence it would be termed as Type 1 good and the applicable value for FY2016 is 2.1463 (Gilders et. al., 2016). The relevant formula for estimation of car fringe benefit value is in accordance with Section 39F , FBTAA, 1986 and stated below (Wilmot, 2012). The various input values in the formula shown above are discussed below. Capital value of Car = Money spent by employer to purchase the car Expenses incurred= (33,000 550) = $ 32450 The statutory percentage is determined by the two following critical inputs. Year in which car purchases Distance travelled for personal usage by the employee With regards to the applicable norms, for any vehicle purchased after 2011 and the annual distance travelled not exceeding 15,000 km, 20% is the statutory percentage to be deployed. The car used by Emma in the given case fulfils both the above conditions and hence statutory percentage to be considered is also 20% (Deutsch et. al., 2015). Days for which car was available to Emma = 366 (FY2016 days count) 30 (Car given to Emma only on May 1, 2015) 5 (Unavailability caused by repairs) = 331 days It is noteworthy that there has been no deduction for a period of ten days when the car was idle in the parking as it was available for use as it was in working condition but Emma was not present. Taxable grossed up value (CFB) = $ 32450 20% (331/366) 2.1463 = $ 12,631.95 The applicable FBT rate for FY2016 stands at 49%. Hence, FBT payable by employer on account of CFB = 12,631.95 *0.49 = $ 6,190 Loan fringe benefit This fringe benefit is considered when the employer extended financial help to the concerned employee at an interest rate lower than the RBA statutory rate. The relevant statutory RBA rate has been prescribed by TD 2015/8 and amounts to 5.65% pa (Sadiq et. al., 2016). However, the extension of loan to Emma by Periwinkle has been done at 4.45% pa and it is lesser than 5.65% pa, hence loan fringe benefit would result in the given case (Wilmot, 2012). It is noteworthy that the loan facility has been extended to Emma not at the start of the financial year but on September 1, 2015 and hence adjustment would be made to reflect the same (Barkoczy, 2015). The amount of interest savings reaped by Emma in FY2016 would be the value of the loan fringe benefit Loan Fringe Benefit (LFB) = 500000*(5.65% - 4.45%)*(213/366) = $ 3,491.8 Since, no GST is applicable on the interest component, hence the relevant gross up factor is 1.9608. Taxable value of Loan Fringe Benefit (LFB) = 3,491.8*1.9608 = $ 6,846.72 Hence, FBT payable by employer on account of LFB = 6,846.72*0.49 = $ 3,355 Bathtub related fringe benefit Based on the given information, Emma has been sold a bathtub of retail value $ 2,600 for a net consideration of $ 1,300 and thus has been provided at a discount of 50% which would constitute as an expense fringe benefit as the bath tub is an item of personal usage by the employee (Hodgson, Mortimer Butler,2016). It is known that bathtub sale attracts GST, thus it would be classified as a Type 1 good with the corresponding gross value factor of 2.1463. Taxable value (Expense Fringe Benefit (EFB)) = (2600-1300)*2.1463 = $ 4,078 Hence, FBT payable by employer on account of EFB = 4078*0.49 = $ 1.998 Use of $ 50,000 by Emma Impact on FBT For any loan component that is deployed by the employee for producing income, the employer can claim deduction on the same (Wilmot, 2012). In the given case, instead of $50,000 being used by the husband, it would not be deployed by Emma for generation of gains or income from indulgence in share trading. Therefore, there would be lowering of tax burden for the employer i.e. Periwinkle since incremental deduction is permissible Value of the incremental deduction allowed = 50000*(5.65% -4.45%) = $ 600 References Barkoczy,S 2015.Foundation of Taxation Law 2015,7th edn, CCH Publications, North Ryde Deutsch, R, Freizer, M, Fullerton, I, Hanley, P, Snape, T 2015. Australian tax handbook, 8th edn, Thomson Reuters, Pymont Gilders, F, Taylor, J, Walpole, M, Burton, M. Ciro, T 2016. Understanding taxation law 2016, 8th edn, LexisNexis/Butterworths. Hodgson, H, Mortimer, C Butler, J 2016, Tax Questions and Answers 2016, 5th ed., Thomson Reuters, Sydney, Nethercott, L, Richardson, G Devos, K 2016, Australian Taxation Study Manual 2016, 4th ed., Oxford University Press, Sydney Sadiq, K, Coleman, C, Hanegbi, R, Jogarajan, S, Krever, R, Obst, W, and Ting, A 2016,Principles of Taxation Law 2016,8th edn, Thomson Reuters, Pymont Wilmot, C 2012, FBT Compliance guide, 6th edn, CCH Australia Limited, North Ryde Woellner, R 2014, Australian taxation law 2014, 8th eds., CCH Australia, North Ryde