1. How are business expenses treated in regard to tax legislation? Discuss in 30 to 50 words.
2. What allowance in tax legislation is there for businesses that are managed on behalf of a trust? Discuss in 80 to 100 words.
3. Describe forecast returns and set up and describe a simple table over several years for similar amounts. Discuss in 50 to 80 words.
4. Describe (150 to 180 words) how NFP sector organisations adhere to government financial policies where the preparation of statutory returns are required.
5. Your client is XYZ company. After discussions it is identified they require a spreadsheet summarizing the repayment amounts and current balance for a long-term loan of $500,000 to be repaid over eight years at a rate of 10% per annum. They are interested in business information that will show the amount they need to repay each year. Show the calculations required for the loan. Prepare the spreadsheet for the loan. Include a summary section to comment on the table. Round the initial opening balance of the loan up to the nearest dollar and round up to present values in whole dollars.
6. List the four categories that client’s business performance objectives can be set up as.
7. What does GPFRU’s mean? List three potential users.
8. What type of clients can expect state and territory charges? Discuss in 50 to 80 words.
9. How can the amount of taxes and charges on land be calculated? Discuss in 50 to 80 words.
10. What practices should these businesses and those who pay Commonwealth taxes complete?
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