Localfund.com - All about Fund and Investment
*Home>>>Income Fund

How each item treated for tax return 2005/2006?what are FBT liabilitiesfor Kaos from provisions & benifits?


Maxwell Smart commenced employment with control on 1st april 1985.He resigned on 31swt march 2006 to take up a position with Kaos.He was aged 46.
Details of smart's financial affairs for 2005/2006 year of income are as follow.on retiring he was paid the following amounts(before PAYG deductions).
1. A superannuation payout of $300,000 from the control Superannuation Fund,He elected to rollover $135,000 into the Kaos Superannuation Fund.There was a $30,000 undeducted contribution component in the $300,000 payment but this was not rolled over.
2.Accrued annual leave $12,000.
3.A lumpsum payment of $100,000 for signing a contract that he would not divulge any ofControl's secrets to Kaos for a period of three years.
Smart's rermunerative package with Kaos.
-base salary $150,000pa
-Employer contributions to hte Kaos Superannuation Fund $30,000
-subscription to spy magazine $300
-BMW car cost $115,000.Smart travelled 10,000km from 1 april 2006 to 30 june 2006.

r u serious?

No one is going to answer your university assignment question here. It's obviously verbatim apart from the fact you can't spell words which are right under your nose. Why don't you study and work it out for yourself?

Tags
  Investment Account   Invest Money   Invest in Gold   Invest Fund   Income Fund   HYIP   High Yield   Hedge Fund
Related information
  • First time investor, where should I invest?

    Buy a 6 month CD. I would NEVER recommend a CD for long term investment. I am suggesting you PARK the money until you have learned enough to answer this question for yourself. During the 6 month...

  • Should I pay my house off early?

    It is never a bad idea to pay off your mortgage early. But there may be better ideas. Look at your current interest rate on the loan. If you can afford to pay it off in less than 10 years, you...

  • What job is the best for wanting to cure cancer?

    first you should get the degree, then get a job with a charitable organisation, eg. Cancer Council or something. Their scientists are paid modestly for looking for cures and stuff.

    ...
  • Are you in good control of your financial? How many of the following match to your current financial condition

    1. Thankfully, I never got that far gone. 2. Not any more. 3. I've paid off two auto loans in the past 3 years and now only have a mortgage and $5000 in student loans. 4. No. I'm up to...

  • Can we add additional funds to a 401K account on some irregular basis ?

    You need to ask your employer. There are two sets of rules A. The set specified by Congress B. The set specified by your employer. The Federal rules are: - Total contributions may not exce...

  • Tax on Unclaimed Funds?

    You probably will have to report it as your income because you are the one who cashed the bonds in. The only thing is that you won't be taxed on the entire amount of the bonds because part of ...

  • Taxes on Mutual Funds: Payment Vs Reinvestment?

    For tax purposes, there is NO difference between reinvesting dividends/capital gains and having them paid out and then investing the proceeds back into the fund.

    ...
  • Hi, I'm interested in hearing from people who can be mentors for questions i have in starting up a business.

    ...

  •  

    Categories--Copyright/IP Policy--Contact Webmaster