Assessment 3 Information
Subject Code: CLWM4100
Subject Name: Taxation Law
Assessment Title: Case Study
Assessment Type: Part A Report and Part B Video
Weighting: 20 %
Total Marks: 20
Submission: via Turnitin
Due Date: Week 10
Part 1) You must explain the timing of a CGT event with relevant section numbers and cases. (8 marks)
Part 2) Advise net capital gains (losses) to be included in Harrison Carter’s tax return for the years ending 2018 and 2019. Include ALL available methods for calculating a capital gain for both years. (8 marks)
Part 3) Video Presentation (4 marks)
Harrison Carter, an Australian resident, seeks advice on the CGT consequences of the following events.
He exchanged contracts for the acquisition of an investment property, at market value, on 24 January 1999, paying a 10% deposit of $80,000. Property settlement was deferred until 5 December 2001, when the balance of $720,000 was paid, title transferred, and his name was recorded as the registered proprietor. At the time of settlement, the market value of the property was $1m. He sold the property on 14 June 2018 for $1.3m.
He acquired 10,000 shares in Star Entertainment Ltd in October 1985, paying $4 per share. He decided to sell his entire shareholding, for $12 per share, and signed a share transfer document and handed the transfer and share script to the Stock Exchange on 20 June 2018. The transfer was not registered with Star Entertainment Ltd until 10 July 2018.
He incurred a capital loss in 2018/19 amounting to $65,000.
Answer the questions, in a maximum of 800 words or approximately 400 words per question.
You are also required to deliver a 1-minute video presentation summarising your assignment.
This assignment must be presented as an individual effort. The assignment requires individual research using a range of tax resources. It is expected the you will survey the relevant literature, including decided cases, and select appropriate additional resources.
You are expected to identify the facts and issues presented by each question, identify and apply the relevant legislation and/or case law, and reach a conclusion.
Your reasons for your conclusions and recommendations must be based on your research into the relevant cases and legislation.
• Please refer to the assessment marking guide to assist you in completing all the assessment criteria.
Important Study Information
Academic Integrity Policy
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Word Limits for Written Assessments
Submissions that exceed the word limit by more than 10% will cease to be marked from the point at which that limit is exceeded.
Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Click here for this information.
Assessment Marking Guide
Student Name: Student Number:
Research – 20%
Ability to locate and effectively use relevant resources Poor (0-1) Adequate
Application of law to facts 50%
Ability to identify relevant facts
Ability to relate appropriate law to the facts
Ability to draw correct or defensible conclusions as to the application of the law to the facts
Evidence of effective communication and presentation skills:30%
The assignment is constructed in a logical manner showing development of arguments
The assignment is concise and easy to understand
Presentation concisely summarises the report
Student average mark across three domains out of 1
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