Taxation Law Essay Example | Topics and Well Written Essays - 5000 words

Taxation Law - Essay Example It also works with appropriate departments on policy matters relating to tax and excise. The ATO has the responsibility for administering a range of tax and superannuation legislation is vested by Parliament in the Commissioner of Taxation. The Commissioner's authority to administer each levy is written into the law relating to that levy, as are his general responsibilities, discretionary powers and rights (The Commissioner of Taxation, (n.d.), accessed 25.10.05). In Australia, the Tax Office generally asks the taxpayers to co-operate with it voluntarily and to disclose full information completely and honestly. But Additionally, it has specific information- gathering powers for some taxpayers who should insist that the Tax Office exercise those powers, even where there is no suggestion of tax avoidance - in particular a professional should not voluntarily disclose confidential information to the Tax Office but insist upon its exercise of these powers. To avoid tax evasions, the Tax Office has right of full and free access to all buildings, books and documents for the purpose of the Income Tax Assessment Act, and is allowed to require any person to give it such information, as it requires or to attend and give evidence before it. The Act also states that the occupier of a building or place entered or proposed to be entered by the Tax Office shall provide the Tax Office with all reasonable facilities and assistance for the exercise of its powers. Once an audit commences the taxpayer may want to know how to interact. Just because it is necessary to assist the Tax Office doesn't mean one is subservient to it. How much information should be provided, or withheld because it is protected may be issues, particularly if the matter may end in court. At conclusion of the audit the taxpayer may undertake a Freedom of Information Act search to find out just what the Tax Office thinks of it. Many taxpayers will find that they have underpaid primary tax and, as a result, apart from having to pay that tax, will be subject to penalties. Their solicitor can document payment arrangements with the tax Office and perhaps prepare mortgages and other charges to secure such payments (Rockliffs Solicitors & Barristers, accessed 25.10.05). The Australian Tax Office is responsible to ensure that that nobody steals public money through tax fraud and for this purpose, it has auditors to carry out the investigations but it does not have powers to take tax criminals to the courts. Once it detects a fraud, then it refers the matter to the Federal Police. The Taxation Bill 2002 provides the Australian Tax Office with a broad range of powers to obtain comprehensive information on the administration of the tax laws. The Inspector-General of Australian Tax Office is able to invite submissions from the public or from particular groups of taxpayers or tax professionals, and may receive submissions in confidence. The Inspector-General is also able to hold meetings with taxpayers, tax professionals or their representatives. The Bill also endows the Inspector-General with investigative powers, including the power to compel disclosure of documents and examine witnesses so that the Inspector-Gen

Case Study Example | Topics and Well Written Essays - 500 words - 32

Case Study Example They even put their own ego aside just to make sure that the work flows smoothly. Their commitment to the task leads them to using a variety of resources so that the task is achieved in time. So it cannot be said that success of a group should be attributed to all group members playing different roles. However, the extent to which different group members contribute also depends upon the leadership and supervision of the group. Having different personalities as part of the team helps in the development of a holistic approach toward the achievement of goals. Personality depicts the thoughts, opinions, perceptions, and reactions of an individual toward the challenges at hand. So when people with different personalities ponder over a matter, they are able to identify far more opportunities than anyone could have done individually. For example, a person who is very social can easily form ties with others. His/her oratory skills and friendly personality helps him/her acquire the most suitable resources for the task at hand. Social people are also generally very friendly, so people find it easy to approach them and discuss all kinds of issues with them. This helps deter confusions and promotes mutual understanding among the group members. On the other hand, people with dominating and aggressive personalities help a group achieve its goal by keeping everything on track. They have the power to command others, and thus are skilled in taking work from others. Balancing a team of people with different personalities is a leadership skill. A leader should have a fair understanding of the personalities of different group members, and he/she should decide and assign them roles accordingly. For example, a leader should give more authority to sharks and dolphins compared to the puffer fish. When forming a task force, a leader should ensure that there is at least one member of each kind of fish in it. It

Financial Crisis Assignment Case Study Example | Topics and Well Written Essays - 1250 words

Financial Crisis Assignment - Case Study Example Its effects were far reached and almost everyone on the globe was impacted by it on some level. Those who were closer to financial markets and deeply involved in the investment business faced greater impacts and are still incurring huge losses. This crisis raised questions that pointed fingers on the functioning of the global financial markets. The liquidity crisis was triggered by a bunch of policies that were implemented by the United States banking system to promote massive investment and growth in the economy. Nevertheless, what started as an attempt to increase consumer spending and encourage investor confidence soon turned out to be the underlying weakness in the financial system. The imbalance in the global economy became too massive for any individual government to control and with the passage of time it only worsened. A critical part was played by the developed economies whose excessively loose monetary policies during the early part of this decade contributed in widening th e gap between the West and the East. It is very interesting to know that the budget deficit of the United States was at an all time high during 2006-2007, while on the other hand huge surpluses were being recorded in Asia, particularly China and other oil exporting countries of Middle East. If we look at figures they reveal a clearer picture, the current account balance as a percent of GDP for US was -4.7%, while for China, Saudi Arabia, Russia and UAE was 10%, 28.9%, 6.1% and 15.8% respectively. Analyzing the figures it clarifies that even after the West was generating billions of dollars in revenue, the global net flow was concentrated towards the Eastern giants as they were becoming powerful by the day. This can be strongly attributed to the fact that the gap between the saving-investment function was extensive and this gap was only widening with time since developing countries started relying more heavily on developed economies to provide for their development expenditures. Ther e were some direct impacts of these huge cross-border financial flows on the financial intermediation process. (Mohan) One of the major causes of the crisis is attributed to the sub-prime lending in the housing industry in America. In order to increase the share several banks gave loans to individuals who were doubtful of paying back their installments in the future. Nevertheless, since in the short run it would show an artificial boast in the economy along with a positive growth of the company many bankers and financial institutions to fulfill their personal interest gave top notch credit ratings to doubtful individuals. This resulted in a massive spending in the housing sector even though it was clear this was only short-lived. Banks gave loans on negligible interest rates at times even below 1%, showing the extent of how eager they were to raise their customer base. The financial sector was involved in a personal struggle to widen its customer base. Derivates were used to inject huge sums of money from the investors in the market, but these derivatives were passed on to other investors and so on. The original derivative holder had no idea who was in possession of his derivative as it was a long chain that no one was aware of. The derivative market surpassed the whole US GDP number and according to estimates in 2010 the US GDP stood at $14 trillion dollars compared to the $300 trillion derivative market. It is apparent that the market was financially diluted and

Origin of flight of dinosaurs Research Paper Example | Topics and Well Written Essays - 2000 words

Origin of flight of dinosaurs - Research Paper Example These factors will all be discussed with reference to Archaeopteryx lithographica, a species generally regarded as being the common ancestor to modern birds and the primary source of information about the development of flight mechanisms. Archaeopteryx A brief discussion of Archaeopteryx litographica (commonly known as Archaeopteryx) is necessary to understand how instrumental this species is to discovering the mechanisms of flight evolution. Various Archaeopteryx specimens have been found in the south of Germany, well-preserved due to the qualities of the limestone in which they were found. The Archaeopteryx is commonly described as being the size of a raven and having several features that make it identifiable in the context of modern-day birds – feathers and a wishbone, for example (Ostrom, 1975). Several of these features suggest that the Archaeopteryx was capable of flight, although, as with many things in evolutionary biology, this is something that can never be ascertai ned. Archaeopteryx also shared several features with dinosaurs, such as having chevrons of increased length in the tail and a specific shape of ankle bone (Ostrom, 1975). This bird-dinosaur morphology is the principle reason for thinking that the species is the missing link. The way that Archaeopteryx specimens are conserved in limestone has resulted in the preservation of feather imprints, allowing paleontologists to ascertain that this species may have used feathers in the development of flight mechanisms. This is particularly good evidence of some aerial motion because the feathers found show characteristics of flight feathers, meaning that feathers had previously began to evolve for a purpose other than flight (Paul, 2002). Finally, it is important to note that it has not been proven whether Archaeopteryx had the power of full flight or could simply glide (Padian & Chiappe, 1998). Arboreal Hypothesis The arboreal hypothesis (also known as the ‘tree down’ hypothesis) refers to the idea that dinosaurs first gained flight by jumping from trees and acquiring flight as an evolutionary mechanism to avoid fatal accidents from this method. This hypothesis seems ‘intuitive’ because ‘flight evolving from an arboreal gliding stage would seem to be relatively easy’ (Padian & Chiappe, 1998, p15) and because the force of gravity ‘helps rather than hinders’ (Lewin, 1983, p38). Some studies, such as that of Feduccia (1993) suggest that the shape of the manus (the ‘hand’ portion of the forelimb) and the pes (the ‘foot’ portion of the hindlimb) of the Archaeopteryx exhibit evidence of perching, tree-dwelling and trunk-climbing due to the curvature of these anatomical elements. However, since this paper was published, another specimen of Archaeopteryx has been discovered (known as the Thermopolis specimen) which has almost complete pes, and thus there is now mounting evidence that the hallux (first digit of the pes) did not display curvature necessary for perching (Mayr et al., 2007). If we consider the Archaeopteryx as arboreal, it is important to understand how and why flight would have developed in this way. The original theory as stated by Othniel C. Marsh in the late 19th century was that Archaeopteryx

Fibre Reinforce Polymer Composites in Bridge Structures Term Paper

Fibre Reinforce Polymer Composites in Bridge Structures - Term Paper Example From the research it can be comprehended that mechanically, a composite is a separable combination of two or more materials that are not the same at the molecular level but purposefully mixed to come up with a new material that has optimal and superior properties, which are different from those of its components. These materials have been utilized over the years in construction. An ancient way was the use of straw for reinforcement in clay and mud bricks. In the last century, in several structural systems, combination of reinforcing concrete and steel has been used for construction. However, a new crop of composite material has since been largely accepted by most engineers for construction and the rehabilitation of new structures and existing facilities. This class consists of Fibre Reinforced Polymer composites, which were in the earlier days developed specifically for defense and aerospace. Fibre Reinforced Polymer (FRP) are a combination of polymeric resins which acts as binders o r matrices that has stiff and strong fibre assemblies which act as the reinforcing phase. The combination of a reinforcing phase with the matrix phase produces a material system that is analogous to steel reinforced concrete and is new. However, these concentrations may significantly vary; generally, the reinforced concrete rarely has more than 5% reinforcement, whereas Fibre reinforced polymer composites contains more than 30% reinforcements.... This class consists of Fibre Reinforced Polymer composites, which were in the earlier days developed specifically for defense and aerospace. Fibre Reinforced Polymer (FRP) are a combination of polymeric resins which acts as binders or matrices that has stiff and strong fibre assemblies which act as the reinforcing phase. The combination of a reinforcing phase with the matrix phase produces a material system that is analogous to steel reinforced concrete and is new. However, these concentrations may significantly vary; generally, the reinforced concrete rarely has more than 5% reinforcement, whereas Fibre reinforced polymer composites contains more than 30% reinforcements. Components of a Fibre Reinforced Polymer Composite Fibre This is a material that has been made into a long filament. A single fibre normally has up to 15Â µm. When the diameter is bigger, the probability of surface defects increases. The aspect ratio of diameter and length in continuous fibres can range from thousa nds to infinity. They usually occupy 50% of the weight and over 30% of the volume. Fibres are mainly meant for providing fitness, carrying the load, providing thermal stability, strength, and other structural properties to Fibre reinforced polymers (FRP) (2). The fibres in FRP composite need to have very high ultimate strength, high modulus of elasticity, low variation strength, high uniformity of diameter, high stability, and high uniformity of surface dimension among fibres. There are various forms of fibre used as reinforcements for polymer composite reinforcement exists. The manufacturer of materials made from FRP composites normally present

Cholesterol and cardiovascular disease Research Paper

Cholesterol and cardiovascular disease - Research Paper Example Keywords: Cholesterol, hypercholesterolemia, heart attack, statins INTRODUCTION Cholesterol is a fat, a sterol. It is one of the main constituents of the cell membranes. Animal cells exclusively manufacture cholesterol, so it is an animal fat. Cholesterol is insoluble in water and is classified on the basis of density into very low density lipoproteins, intermediate density lipoproteins, low density lipoproteins and high density lipoproteins. The elevated levels of cholesterol in the human body play a very drastic role. The most crucial among all the effects is its effect on heart. The related symptoms may also arise depending upon the quantity of it in the blood and organs. REALTION BETWEEN CHOLESTROL AND HEART DISEASE When the level of cholesterol rises in blood, it starts getting accumulated in the inner walls of the vessels. Not all the fats are bad. There are two main types of cholesterol, we will deal here. One is the good cholesterol, HDL and other is bad one, LDL. These are t he two major types of fats in which they move around in the body. LDL clogs the arteries and HDL actually works opposite to it and helps clearing the cholesterol from blood. The total cholesterol level should be less than 200 mg/dL. The LDL level should be below 100 mg/dL. In general, higher the LDL levels, more are the chances of getting cardiac diseases. The LDL is of low density, it tends to accumulate in the blood vessels instead of circulating in the blood. Over the time, this buildup of LDL causes the hardening of the arteries. The arteries narrow down and blood flow gets slow. The blood is therefore, unable to carry the nutrients to the heart and person suffers from the chest pain. As the plaque deposit grows, it can block the main artery, coronary artery, causing heart attack (Webmd.com, 2013). RISK OF GETTING CARDIAC DISEASE Hypercholesterolemia is a modifying risk factor for coronary artery disease. There are many risk factors associated with an elevated level of cholester ol in body, some major are obesity, diabetes, heart failure, congestive heart disease, hormonal imbalance, glucose production inhibition, bleeding disorders, gynecological disorders like infertility, eye sight loss and many more. Heart attack is the major cause of death in the world. This heart attack and related cardiac diseases are due to the cholesterol. It is estimated that 54% of deaths in the Eastern Mediterranean Region are due to CVS disorders. In Oman, it is about 49%, and 13% in Somalia. The deaths due to the heart problems in UAE are about 28%, 19% in Sudan and 52% in Lebanon. About 600,000 Americans die due to heart attack. Coronary artery disease is the most common cause of their death. Every year, about 7 million Americans have heart attack. Out of these, some might had had an attack and others suffer first attack. The risk factors contributing to these deaths are obesity, poor diet, excessive alcohol intake and high lipid intake. The most common among all is the diet having high levels of bad fats along with sedentary lifestyle. About 49% have these risk factors in general,

Film Analysis Essay Example | Topics and Well Written Essays - 1000 words

Film Analysis - Essay Example He joined a Neo- Kazi movement where he befriended the leaders of that group, and started his mission with rage. When in the movement he killed two black men who were members of the gang. Before he killed them he found them trying to break into the truck that his father had left for him. Later he was imprisoned for three years as a result of manslaughter. As the film starts, there is a flashback, where Danny is trying to get some sleep but he cannot sleep because he was disturbed by the noise coming out from his brothers’ room. The brother was having sex with his girlfriend. He then hears another voice from outside, when he peeped through the window he saw a black man who was trying to break into his brothers’ truck. Danny ran into his brothers’ room to inform him about what he had seen. Derrick ran out with his pistol and started firing at the black men, and he managed to kill all of them. After that incidence Derrick is sentenced for three years imprisonment. I n prison, he was raped by the fellow skinheads but later was befriended by a black man whom he had to work for, just for his security in prison. The experience that Derrick went through, when in prison changed him forever. On his return home he realized that his younger brother Danny had started to involve himself with the group of white supremacy. Danny was spitting the racial slurs right and left, the same way that Derrick used to do before he was imprisoned (Smith, 2007). Derrick was in dismay when he realized that his family was torn apart, due to his violent action. Immediately after his release he goes to try and see if he can bring the family together. He wanted to reconcile with his sisters and mother, and also to change Danny from his behaviors that were disturbing. Towards the end of the film, it was clear that Derrick was able to change Danny to be the boy that he ones. To distance themselves from the white supremacy the boys had to tear down the pro-Nazi and racist propa ganda that were on the walls in Danny’s bedroom. After he stripped off the hate that was in his room Danny embarked working on his schoolwork paper. The initial intention of that paper was to share about hi Derrick’s lifestyle when in the Neo-Kazi movement (Christopher, 2008). But when he saw how his brother had transformed, his paper took another direction. He wrote a paper full of hope, telling how he and his brother were freed from bondage of rage and bigotry. Towards the end of the film Derrick escorts his brother to school and he bid him bye. After a short while when he went Derrick heard gun shots when he ran to the site he saw his brother lying on the floor with the essay next to him. The film American history X shows some incivility. The emotions of incivility are created in the film because there is a group in the film that is known as the white supremacy. Derrick was in the group and his rage to the blacks is shown when he kills the three black men. He murder ed them brutally because he considered the blacks, an inferior race. Another emotion of incivility is by that instance in the film American history, where Danny was shot by a black (Parfit, 2008). This boy killed him because he was filled with hatred against the whites. The other incidence that shows incivility is when Derricks’ father was murdered by a black man who was a drug dealer. When Danny died Derrick ran to him and started mourning as he asked himself what he had done that led to his