Assessment for Taxation Law Assignment Example | Topics and Well Written Essays - 1000 words

Assessment for Taxation Law - Assignment Example A lump sum is subjected to tax on the extent to which it is quantifiable and identifiable as representing reimbursement of income loss. In this case, we shall analyze cases related to this scenario, and try to relate the extent to which the damage that was paid to Nutra Tech Pty Ltd is assessable for tax purpose. Cases and judgments In McLaurin v FCT, the court resolved a case that involved payment of lump sum amount, paid as damages caused by a bush fire on the taxpayers grazing property. 1 This lump sum was a collection of particular items of damage, which were not clearly disclosed to the taxpayer. The court ruled that the distribution was in order after analyzing the details of the case. The decision in this case supported dissection of a payment into several heads and classify some as income and others as non-income, given that the payments is in relation to separate claims, some of which must be liquidated (Nethercott, Devos, & Richardson, 2010). In Van den Berghs Ltd v Clark,2 the judge distinguished capital from income through two tests. One test aimed at establishing whether the contract was part of a fixed framework, that the capital belonged. The other test was to establish whether the contract was purely supplementary to profit-making or a crucial part of the process itself. In this case, the taxpayer entered a contract with a Dutch company, but the contract was terminated and Van den Berghs paid ?450,000 as damages for cancellation of the agreement. The judges held that this amount was capital in nature, since Van den Berghs gave up its right under the agreement. In addition, it was argued that the agreement which was canceled was not commercial in nature, but only affected the manner in which profit-making activities were run. Furthermore, examination of the company’s circumstances exposed that the contract stood for the permanent framework that Van den Berghs run its trade (Nethercott, Devos, & Richardson, 2010). The case of Californian Oi l Products (In Lia) v FC is also related to capital and revenue income. The case was concerned with a taxpayer, who entered into an agreement with a foreign company, which accorded it rights to dispense its oil products in Australia. 3As a result, the oil company terminated the contract and compensated California Oil for the termination. The court ruled that the amount paid as damages for termination of the contract involved ditching a fundamental sole business; hence, the compensation was of a capital nature. In FC of T v CSR, it was decided that capital gain tax provisions, were applicable if the taxpayer obtained a lump sum in exchange of damages for breach of contract. In regard to Income Tax Assessment Act, 118-20, which is related to CGT taxing powers relationships to the rest of the provisions, the capital gain would be reduced if the amount was assessable income, as stipulated in sections 20-25(4) (CCH Australia Limited, 2009). Application of the cases To establish whether t he damage received by Nutra Tech Pty Ltd is of capital or income nature, it is important to consider whether the terminated agreement, which was related to consultancy services, was associated to its profit-making activities. If Nutra Tech Pty Ltd could be able to obtain another contract to replace the terminated one, then it can be held that the agreement did not obstruct Nutra Tech Pty Ltd’s profit-making act

Corean Healthcare System Essay Example | Topics and Well Written Essays - 1000 words

Corean Healthcare System - Essay Example Just like in most of the western world, women in South Korea have monthly OBGYN visits. Sonograms are also part of the routine. Along with the routine checkups and sonograms that women undergo are certain foods that Koreans believe to be beneficial for prenatal care. For instance, pregnant women are strongly encouraged to eat only foods that are fresh, some of which are uncooked. In addition to these practices, women are also encouraged to relax and think about nothing negative. Koreans believe that doing all of these things will promote the health of the baby.During the labor and delivery process, the mother-in-law was traditionally the only one present. Now, however, other family members can be present. Women are to endure the delivery process in a manner that is quiet. They are not to shout loud. They are to just endure the pain. When the woman has gone through with labor and delivery, she is to come home and relax. Only the immediate family is allowed to visit the mother and baby, until the baby is one month old. To continue to maintain health after pregnancy, it is advised to consume seaweed soup twice a day for the first two weeks after giving birth (Korean National Statistical Office-Women's Lives Through Statistics). Nutrition As far as maintaining optimal health and nutrition is concerned, Koreans prefer to utilize natural methods. Some of the natural methods they make use of are getting plenty of fresh air, taking walks, and using traditional Oriental health practices as a means of preventing illness, such as the use of a fomentation bath or sauna to promote blood circulation (Shin et al, 2004). Other long standing traditions are observed, as well. For instance, traditions to show respect for parents and ancestors are observed routinely. In addition to this, there are traditions that are practiced in regards to the birth of the child, as well as on the child's first birthday to promote long life and happiness (Vogler, 2005). Korea offers a great variety of hearty and healthy dishes. Kimchi (fermented spicy cabbage) is the most popular, as it is eaten and enjoyed by almost everyone in Korea. Koreans are practically vegetarians; however, several dishes can be found that contain a wide variety of seafood's, as well as different meats. Many noodle and soup dishes are favorite among Koreans, and the variety of courses varies, depending on the class of people. Lower class individuals typically eat a meal that consists of three courses, while royalty will typically eat twelve (Shin et al, 2004). Since the introduction of western way of life into Korea, such as the eating habits and the westernized fast-food restaurants, obesity is on the rise. The South Korean media uses educational materials to

Mergers and Acquisitions in the Aviation Industry

Mergers and Acquisitions in the Aviation Industry Background: Aviation industry is a symbol of comprehensive national power and an extremely important part of the national defense. It is also a significant guarantee for national security and an essential support for the development of economic and society. In the entire aviation industry, civil aviation is made up of all types of aviation activities using aircraft except military applications, which includes defense, police and customs, and the civil aviation includes commercial aviation and general aviation. In recent years, the rapid development of civil aviation plays an increasingly important role in the aviation industry. In terms of globalization, the aviation industry is mainly concentrated in the United States, Europe, Canada, Australia and some other developed regions. Along with the rapid development of the global economy, the enthusiasm for developing aviation industry of many new industrialized countries has also been greatly inspired. A number of high-end manufacturing, including the aviation industry, are shifting from developed countries to developing countries, to meet the global market demand, many developed countries and developing countries began the cooperation. The economic turmoil and financial crisis of the current world has caused a great shock on aviation industry, although the condition is getting improved, it is still very difficult to predict what the future will be. As one of the leaders of the aviation industry all over the world, the market of aviation industry in the United States has been greatly affected in recent years. The fallen price of tickets, rising price of oil, as well as anti-monopoly policy, all have negative impacts on the civil aviation industry in America. Merger integration is trend of the development of international aviation industry in recent years. There are many examples: In Europe, Air France and KLM Royal Dutch Airlines were merged in 2003; Lufthansa purchased Swiss Air in 2005, and later purchased the Austrian Airlines; British Airways and Iberia Airlines merged in 2010 . After a series of mergers and reorganizations, the market is full of vitality and competitive power. In the United States in recent years, the operation of civil aviation industry has become much more difficult and many airline companies are seeking to break through this condition by mergers and acquisitions. In 2005, US Airways merged America West Airlines; Delta Air Lines purchased Northwest Airlines in 2008; two years later, the United Airlines and Continental Airlines were merged and turned into the United Continental Holdings incorporated; in 2011, Southwest Airlines purchased the AirTran and after two years, American Airlines merged US Airways. After th e mergers and reorganizations, these companies operating performance begins to rise out of recession, but whether the specific results really are optimistic? This dissertation will make analysis and judgment. Congress reduced the control of the market in 1978, which brought the US economy market unparalleled interests. America has a mature aviation industry market, which has become an important factor of the growth of economy now. Even if there is a little change in the industry, it can bring a big influence on various aspects. In this tough competitive environment at home and abroad, the civil aviation industry attracts much more attention. Concentration Tendency In recent years, the aviation industry in the United States had generated a lot of new companies and there have been a lot of bankruptcy and merger phenomena, which is bound to affect the competition tendency of the aviation industry. In this dissertation, the methods used to calculate the concentration of aviation industry are Herfindahl-Hirschman Index (HHI) and Concentration Ratio (CRn). The calculation method of industry concentration index is the most common, and it is also an important indicator of measuring the market structure. It indicates the degree of concentration of the industry by calculating the proportion of the relevant value (such as sales, value added, number of employees, total assets, etc.) of the first largest n companies in the industry toward those of the entire industry. For example, CR4 refers to the relevant market share occupied by the four largest enterprises and CR8 means the relevant market share occupied by the eight largest enterprises. If the CRn is greater, it indicating a higher degree of concentration of the industry and the more likely for competition in the market tend to be monopolistic; on the contrary, the lower the concentration is, the more likely for competition in the market tend to be competitive.(MBAlib, 2012) The formula is: CRn=. In this formula, Si means the market share of the enterprise i, n means the total number of firms (for instance, the number is 4 or 8.) in the industry. However, the disadvantage of CRn is that this concentration ratio cannot indicate the total number of enterprises which are operating and competitive in this industry. For example, the market share of 2 CR4 with the same value of 75% in two different industries might not be the same, because there may be only a few companies in one industry and the other industry may have many companies. Therefore, in the dissertation, HHI will be used to measure the market concentration to improve the credibility of the data. HHI calculates the sum of the squares of market share of the largest 50 companies in this industry (if the number of companies is less than 50, it includes all enterprises). Obviously, the greater HHI is, the higher the degree of market concentration and the higher the degree of monopoly. The index can not only reflect the market share of large enterprises, but also can reflect the market structure besides large enterprises. Therefore, HHI is able to reflect the impact of large enterprises on the market more accurately. The formula is: HHI=2. In this formula, Si means the market share of the enterprise i, n means the total number of firms in the industry. HHI changes between 1/n and 1, which indicates that the higher value is, the greater unevenness distribution of the size of a firm. As long as firms merge, the value of HHI will increase; as long as the firms decompose, the value of HHI will be reduced. The advantage of HHI are it reflects large-scale companies market share more sensitively, while reflects many small businesses’ market share very little, and it cannot be affected by the number of companies and the size distribution of the industry, which is better to measure the changes in the market concentration of the industry.(MBAlib, 2010) This table illustrates the values of CR4, CR8 and HHI in ten years. According to the concentration ratio CR4 and CR8, it can be obviously found that the aviation industry was behaving as an oligopoly and was a highly concentrated industry, while in terms of HHI, the market concentration was moderate. All of the 3 values were keeping decreasing from 2001 to 2006 and appeared to hit bottom in 2007, in which year the economy crisis took place. After that, the tendency of market concentration was improved and reached a new height in 2013. (Ahren J. 2011) In summary, the level of market concentration of aviation industry was decreasing first and then keeping increasing in the United States. Accordingly, the competition tendency also turned from competitive to monopolistic, which indicates the number of companies was reduced and the market shares of large firms have increased. References: MBAlib (2010) Concentration Ratioà ¯Ã‚ ¼Ã…’CRn[online]New York. Available from: http://wiki.mbalib.com/wiki/%E8%B5%AB%E8%8A%AC%E8%BE%BE%E5%B0%94%E2%80%94%E8%B5%AB%E5%B8%8C%E6%9B%BC%E6%8C%87%E6%95%B0 [Accessed 29 January 2015] Ahren Johnston (2011) CONCENTRATION IN THE AIRLINE INDUSTRY: EVIDENCE OF ECONOMIES OF SCALE?[online]New York, Journal of Transportation Management. Available from: http://www.deltanualpha.org/pdfarticles/2011/Ahren%20Johnston.pdf [Accessed 29 January 2015] MBAlib (2012) Herfindahl-Hirschman Index [online]New York. Available from: http://wiki.mbalib.com/wiki/%E8%A1%8C%E4%B8%9A%E9%9B%86%E4%B8%AD%E7%8E%87 [Accessed 29 January 2015]

A Career in Sports Management Essay -- Career Research

Choosing a career is one of the most important decisions a person will make in their life. Most people try to pick the career with the best financial gain and something they would like to do for the rest of their life. Foremost it is wise to see what the job entails. Sport Management is perfect for those who enjoy helping and working with people, especially when dealing with sports. The next part of the decision-making process is looking through the various schooling and training required. Lastly, take into consideration the advantages and disadvantages. Usually with great salaries comes a big responsibility with high stress. â€Å"The sports industry in the U.S. is a $200-billion-dollar-plus powerhouse, with superstar athletes, lucrative endorsement deals, and all the free press an ego can handle† (Lawyue 1). The profession of a sport management professional has a very specific work description, requires specific schooling and training, and comes with a variety of benefits and disadvantages. As time progresses, watching and supporting sports is becoming more and more popular as a main source of entertainment. Many people have found ways to connect their jobs with their passion of sports. â€Å"The multibillion-dollar sports industry offers employment opportunities for management, marketing, and supervisory professionals at all levels of competition† (Sports Management 1). Depending on a person’s interests, there are jobs in professional, amateur, and even school sports. Once a person decides on a sport management career, it needs to be determined which area he or she more specifically wants to go into based on his or her interests and abilities. There is a wide range of groups who employ sport management pr... ...rks Cited Lawyue, Mathew. How to Pick a Sport Management Program. Undergraduate News. Bloomberg Businessweek. 18 Aug. 2012. Web. 18 Sep. 2014. â€Å"Major: Sports Management.† Princetonreview.com. The Princeton Review, n.d. Web. 4 Oct. 2014. â€Å"Manager.† Encyclopedia Britannica. Encyclopedia manager> Paulson, Edward. The Complete Idiots Guide to Starting Your Own Business. Indianapolis: Alpha Books, 2000. Print â€Å"Professional Sport.† Education-portal.com. MGMT Professions., n.d. Web. 4 Oct. 2014 â€Å"Sport Management.† Library.semo.edu. Kent Library Research Guide, n.d. Web. 18 Sep. 2014. â€Å"Sports Management.† Careers.stateuniversity.com. n.p., n.d. Web. 4 Oct. 2014 â€Å"What is Sport Management.† Winthrope.edu. Winthrope, n.d. Web. 15 Sep. 2014.

Squealer in Animal Farm

What makes Squealer such a significant character in Animal Farm? Throughout the novella, Orwell uses the character Squealer, a silver tongued pig, to manipulate language to convince other animals on the farm. Orwell uses   Squealer  to mainly show how some governments and politicians  use   propaganda to brainwash the minds of their fellow people. Squealer is very much Napoleon’s propaganda machine. His manipulation of language is key to grasping the trust of animals under their leader Napoleon’s reign.Squealer is a very convincing actor to the animals and his persuasion used to justify Napoleon’s actions overcomes their doubts, â€Å"he could turn black into white†. He makes the animals turn against their trusted Snowball when Squealer deceitfully tells them â€Å"Squealer was in a league with Snowball†. Squealer himself does not voice much of his own opinion, he merely regurgitates orders from Napoleon as he knows he’s arguing from a certain position of knowledge that he thinks can be trusted.He manipulates the animals’ fear of Jones in order to increase Napoleon’s power. He gives the animal’s meaningless and often false statistics to convince them that life is better than it used to be, for example when he ‘proved’ to the animals in detail that they had more food not than before the Rebellion. In specific language terms, Squealer uses a lot of rhetorical questions limiting the animals from thinking for themselves and so forcing them to submit to his authority, ‘’Surely Comrades you don’t want Jones back? ’’.Squealer cleverly complicates the language he uses and practises jargon that the animals do not know the meaning of so that they will think he must be an intelligent individual and they must follow his orders. By complicating language, â€Å"A bird’s wing†¦ is an organ of propulsion and not of manipulation†, he confuses the other animals. He also causes them to have a sense of hopelessness; the other animals feel they can never understand the truth without the pigs’ intervention and guidance. Combining the animals’ ignorance of the changing of history to suit the pig’s needs, Squealer changes the commandments to make the pigs â€Å"more equal. Furthermore, by radically simplifying language instead, like when he teaches the sheep to bleat â€Å"Four legs good, two legs better! † he limits the terms of debate. Additionally, Squealer's name fits him well: squealing, of course, refers to a pig's typical form of vocalization, and Squealer's speech defines him. At the same time, to squeal also means to betray and so this fittingly evokes Squealer’s behaviour to the other animals. Overall, Squealer is remarkably good at playing on the animals’ ignorance and gullibility. He redefines his words to prevent the animals from having a mind of their own.

How have certain modern conflicts been described as ‘New Wars?’ Essay

Whilst ‘old’ wars have sometimes been referred to as ‘interstate industrial warfare’ which involve wars between states being fought by armed forces in uniform, with decisive encounters being decided on one battlefield, ‘new’ wars have been described by Mary Kaldor as ‘intra-state’ wars. In the last 20 years we have seen a paradigm shift; from armies with comparable forces doing battle on a field to strategic confrontation between a range of combatants using different types of weapons .These so-called ‘new’ wars which involve the use of civilians as both targets and objectives to be won, have been said to have been led by globalisation, due to the fact that the integration created has led to â€Å"fragmentation,† as seen in the Yugoslav wars with these wars being wars on identity. An identity war is a conflict in which the quest for cultural regeneration, expressed through the demand that a people’s collective identity is publicly and politically recognised, is a primary motivation for conflict. These ‘new’ wars have constructed new sectarian identities (religious, ethical or tribal) that undermine the sense of a shared political community. They recreate the sense of political community along the new lines through purpose of fear and hate. These ‘intra-state’ identity conflicts have been prominent in many recent conflicts, with the Iraq war and The Arab Spring seeing the recurrence of tensions between the Shia and Shiite Muslims. Furthermore, conflicts in the Congo, Rwanda and Sudan were also fought on the lines of ethnicity, with ethnicity also being a real cause in the Yugoslav wars with Slavic Christians being pitted against Bosnian Muslims. Furthermore, ‘new’ wars have differing characteristics to ‘old’ wars. As mentioned earlier, ‘old’ wars traditionally saw conventional armies fighting against each other, however with ‘new’ wars, we have seen a blurring between civilians and soldiers. This can be seen through the feminization of war, which has been seen in conflicts such as Rwanda, and the use of child soldiers in conflicts throughout Africa including Rwanda, Sierra Leone and Congo. This change has meant that women and children have become the main targets and victims of war and armed conflict in today’s conflicts. It estimated that 75% of all African wars are fought by children, and whilst rape has traditionally been a by-product of war for many centuries, it is now thought that War Rape is genuine military tactic. War Rape has been seen primarily in Rwanda where it is thought that 1 million women were raped and in the Yugoslavian Wars where ‘Rape Camps’ were set up. As one UN peacekeeper working in Africa put it, â€Å"It has probably become more dangerous to be a woman than a soldier in an armed conflict.† ‘New’ conflicts have also seen new tactics come in to play aside from ‘War Rape.’ Often’ ‘new’ conflicts have seen the occurrence of ‘Asymmetrical’ wars. Asymmetric warfare exists when two combatants are so different in their characters, and in their areas of comparative advantage, that a confrontation between them comes to turn one side’s ability to force the other side to fight on their own terms. Tactics used in these conflicts are often Guerrilla warfare and low-intensity hit and run conflict. An obvious example of this is seen in the conflict in Afghanistan through the use of IEDS and roadside bombs. Essentially such strategies used in the ‘war of the flea’ involve inflicting pain over time without suffering unbearable retaliation in return. Lastly, ‘new’ conflicts differ from ‘old’ conflicts through their funding. Whilst ‘old’ conflicts were funded through the state, as seen in the WW2 and the entrance into ‘total war’, ‘new’ wars are characterised by funding through the criminality of war. This illegal funding has been seen in Sierra Leone, where funding was acquired through the selling of blood diamonds, in Afghanistan where the Taliban are funded through the selling of opium, and finally in the Bosnian war, where counterfeit cigarettes funded Para-military groups involved in ethnic cleansing. To conclude, recent modern conflicts have been classified as ‘new’ conflicts as they differ through their legitimacy, funding and tactics.