Required (40% of the answer) 8 marks Advise the company about the following: [You must refer to appropriate sections of the legislation and relevant case law.] The nature of trading stock, generally, whether the caskets and accessories would be trading stock for tax purposes and how the amount of $25,000 is treated for tax purposes. What adjustments (if any) should be made to the company’s reported profit for tax purposes in regard to items (b), (c) and (d).HI6028 Taxation Law T …

| November 30, 2018

Required (40% of the answer) 8 marks Advise the company about the following: [You must refer to appropriate sections of the legislation and relevant case law.] The nature of trading stock, generally, whether the caskets and accessories would be trading stock for tax purposes and how the amount of $25,000 is treated for tax purposes. What adjustments (if any) should be made to the company’s reported profit for tax purposes in regard to items (b), (c) and (d).HI6028 Taxation Law T …

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