Questions On A Business Case For Sustainability - 2484 Words

Exam II Name: Kaitlynn Poston Answer each question as completely as possible. Each question is worth 10 points for a total of 50 points. The exam is due in the dropbox by noon on Wednesday so I will have time to grade it before the grade reporting deadline. 1. On worksheet #3 you were asked to make the business case for sustainability. Businesses are concerned about making more profit and be more profitable into the future. The items listed on the sustainability PowerPoint could be broken into three categories: cost reduction, increased worker productivity, enhanced market share. Make the business case for sustainability in the light of these three categories. How does each of these fit into the triple bottom line (3BL)? In†¦show more content†¦The triple bottom line concept has changed the way businesses measure sustainability and the performance of policies. The flexibility of the triple bottom line concept also allows businesses to apply the concept in a way that is most beneficial to their specific needs. It can also improve more than just a business’s financial line, it can improve the way people treat others within an organization as well as reduce their negative impact on the environment. The business case for sustainability is to try and prove that while decreasing a company’s environmental impact, they are in turn increasing their social impact, as well as their profits. The goal of the business case for sustainability is to enhance profits, comply with regulations, avoid future litigation, reduce resource use, reduce the waste stream, reduce energy use, increase customer satisfaction, increase employee satisfaction, and the good will of the community. In the past, destroying and polluting may have been good for business and the profit bottom line. But today, businesses that are â€Å"going green,† can save producers money and also be popular with consumers. With the growing demand for green products, major new markets have been created in which eco-entrepreneurs are reaping the benefits. Companies known for proactive policies that support environmental regulations are often positively recognized by customers, employees, regulators, the media and oth ers. Because of their

Essay about Israel - 1022 Words

Israel Israel is a small country in southwestern Asia. It occupies a narrow strip of land on the Eastern Shore of the Mediterranean Sea and is bordered by Jordan, Lebanon, Syria, and Egypt. Israel has four major land regions. They are the Coastal Plain, the Judeo-Galilean Highlands, the Rift Valley, and the Negev Desert. The Coastal Plain is a narrow strip of fertile land along the Mediterranean Sea. The Judeo-Galilean Highlands include a series of mountain ranges that run from Galilee-the northernmost part of Israel- to the edge of the Negev Desert in the South. The Rift Valley is a long, narrow strip of land in eastern Israel, which makes up part of the Great Rift Valley. Israels driest region is the Negev Desert made up of dry†¦show more content†¦Capturing the election is just what he did. He had to make a big decision in the beginning of his new government, which would he deal with first, peace with the Arabs, or peace among the Jews? He decided to make the Shas instead of the Likud his main governing partner. This meant he was going to deal with the Arabs peace negotiating first. His choice to do this, along with his other political party supporters gave him the majority, 75 out of 120 seats in the Knesset (Israeli parliament). This meant that any peace negotiations or any other decisions by him would pass right through the Knesset and easily become a law. His planned strategy to have the majority seats has worked so far. Yet, Barak has failed to discuss any agreements yet with Yassir Arafat the leader of the Palestinian Liberation Organization (P.L.O) in terms of giving up land for peace to the Palestinians. Ahud Barak, although very different in many ways from Netanyahu, believes in some of his ideas such as eliminating terrorism in the Middle East. Barak, who was liked by President Clinton because of his openness to negotiations to make peace, currently looks like a better fit in the Prime Minister role for Israel because he does not object to negoti ation, such as Netanyahu did. He has a somewhat open mind and is interested in the benefit of not only Israel but also the rest of its neighbors as well in terms of making peace with one another. This is what IsraelShow MoreRelatedThe War Of Israel And Israel1017 Words   |  5 Pagesarise when a young country like Israel would ever militarily defeat Egypt. To these powerful nations, such a thought was comedic, but ultimately came into existence at the conclusion of the six-day war in 1967 (June 5- June 10) where Israel defeated Egypt. This victory by Israel ultimately led to the Jewish nation multiplying in size dramatically as it was now four times larger than it was prior to the war. 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The Israel and Palestine conflict has been g oing on for many decades and nothing seems to be able to solve this issue. All because the Israeli government is very stubborn. They are not willing to make a compromise in this situation. The main issues between the Palestinians and the Israelites are; Israel has been unfair toRead MoreIsrael-Palestine3340 Words   |  14 PagesIsrael-Palestine Introduction In the absence of peace, there is conflict. This might lead to war between countries if conflict is not handled carefully. Today it is almost a norm to see countries engaging others in war. Today the greatest problem facing many nations is international relation. Countries have failed to live like decent neighbors. There is disunity among many nations. War between nations is caused by mistrust and tension. Nations purchase arms to stock their armory. Major inventionsRead MoreThe State Of Israel2396 Words   |  10 Pagesothers have created for them. 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Through Israel’s military, the government backing, and their ability to adapt

Concept of Ordinary Income Under ITAA 1997

Question: Describe about the Concept of Ordinary Income for Under ITAA 1997. Answer: 1. Issue The core objective of the given situation is to discuss the relevant statute dealing with the concept of ordinary income and therefore opine on the appropriate tax treatment and income classification of the proceeds received by Peta from the tennis courts sale with special reference to the concept of ordinary income. Rule In relation to the concept of assessable income under ITAA 1997, the following two sections are pivotal. Section 6(5) This includes income that is derived or earned as per ordinary income concept but the statute does not provide details as to which all income sources tend to fulfil this condition and hence could be included in the ambit of this section (Barkoczy, 2015). Clarity in this regard has emerged by referring to the various to the case laws that have opined on this section along with the relevant tax rulings which have pondered on the constituents of the income to be included here. Based on these, common income sources included here are as follows (Gilders et. al., 2015). Personal exertion income As per this, income from indulging in commercially useful activity would result in assessable income usually in the form of salary. Investments income- This is primarily earned in the form of dividends on shares, rent on property or interest on securities or bank accounts. Business income: This is primarily earned from indulging in a business activity by the taxpayer. It is imperative that the activity should not be of isolated nature and also must not be activity classified as hobby under the aegis of TR 97/11 (Woellner, 2014). Section 15(15) This primarily includes proceeds that are obtained from transactions of isolated nature which the taxpayer tends to enact with the specific purpose of deriving gains in mind. The presence of profit motive as the primary reason for enactment of the underlying activity has been established and highlighted in tax ruling TR 92/3 along with the Westfield Limited v. FCT (1991) case (Sadiq et. al., 2015). Application As per the information provided, Peta took ownership of the Kew based house with the following intention in mind. The house would serve as residence for Peta where she would reside with her family. She also intends to derive gains by undertaking construction activity on the tennis courts on which new units would be constructed which would bring in significant gains on liquidation. However, the plan of construction of units had to be aborted as before Peta could implement that, she got an offer from a tennis club which wanted to take ownership of the tennis courts in the backyard and were willing to pay as much as $ 600,000 for the same. However, for buying the courts, they wanted Peta to restore their condition so that they could be used for playing tennis. Peta agreed for the offer as she knew that after spending on the related restoration work , she would gain handsome profits. Thus, with the objective of making profit, she undertook requisite work related to restoration at a cost of $ 100,000. After incurring the same, she was successful in obtaining $ 600,000 proceed from the club. For the above proceeds to be classified as ordinary income, it has to fall within the ambit fo personal exertion, investment or business, Clearly, Peta did not herself undergo any employment or personal exertion and nor were proceeds realised as investment income. Further, no information given in the case remotely hints at Peta conducting any business that deals with restoration of old tennis courts or related activity. This fact is also confirmed by her initial plans to construct units on the tennis court. Hence, the proceeds evidently do not fall within the definition of Section 6(5). Also, it is apparent that the restoration plan was implemented by Peta only driven by the offer from the tennis club and more importantly the gains that she could derive from the sale transaction. In the event, that such an offer was not extended to her, it is highly likely that she would have continued with her earlier plans of construction of units on the tennis court. Hence, there is no doubt that the proceeds of this transaction which is of isolated nature (as Peta is not involved in such a business) and also has underlying profit motive which qualifies it as assessable income but under the aegis of Section 15(15). Conclusion The arguments and related discussion hint to the fact that the proceeds derived by Peta would fall within the ambit of Section 15(15) but would not be termed as ordinary income as defined in Section 6(5). 2. Issue The central objective in the given case is to analyse the various fringe benefits that Alan receives from his employer ABC Ltd and thereby comment on the result FBT liability from the same. Rule Mobile Device With regards to mobile handset being given by the employer, Section 58X is useful which states that if such a device is used by employee only in professional work, then no FBT liability would arise for the employer. Additionally, in wake of the same, any payment of mobile bill by the employer would lead to FBT liability only when the mobile is deployed for personal use by the employee (Wilmot, 2012). School fees School fees for children is an expense which is of personal nature and borne by the employee only. If such fees are instead paid by the employer, then expense fringe benefit would be extended to the employee (Deutsch et al., 2015). Expense fringe benefit Fees (Grossed up value) = School fees expense borne by the employer * Gross up factor The gross up factor used above changes from time to time and also depends upon whether GST is levied on the underlying payment or not (Gilders et. al., 2015). Expense fringe benefit (FBT liability) = 0.49* Expense fringe benefit Fees (Grossed up value) Dinner For any spending on meals extended to employees or clients, which is not arranged within the business premises, the employer would have to bear FBT liability as meal fringe benefits would be extended. There are two separate methods that employer can deploy in this regard as explained below. Actual Method The use of this method is preferred by the employer when the clients do not figure in the invitee list. In accordance with the name, the actual expense of meal is taken into account for computation of tax liability. However, the employer has an incentive in the form of the meal expense that is incurred being of deductible nature which helps the employer in reducing the overall tax liability. However, any such expense done on clients is not deductible for tax and thus when clients are part of invitees, the alternative approach tends to be preferred (Hodgson, Mortimer Butler, 2016). Meal Fringe Benefit Actual Method (FBT Payable) = 0.49* Actual food bill * Gross up factor 50-50 Split Method The use of this method is preferred by the employer when the clients figure in the invitee list. In accordance with the name, only half of the actual expense of meal is taken into account for computation of tax liability. Since, expense done on clients meal is not deductible for tax, hence the employers aim to lower the FBT liability to the extent possible and thereby use this method (Nethercott, Richardson Devos, 2016). Meal Fringe Benefit 50:50 Split Method (FBT Payable) = 0.49* 0.5*Actual food bill * Gross up factor Application Mobile Device The mobile handset provided by employer ABC to Alan is used by him only for professional work and thus Section 58X advocates that no FBT payable for employer in relation to the handset. Further, for the phone bill also, since Alan makes no personal calls, hence it would not be classified as a fringe benefit and hence no FBT on the same. School fees School fees paid by ABC= $ 20,000 It is known that school fess is exempt from GST, hence relevant gross up factor for FY2016 is 1.9608 Expense fringe benefit Fees (FBT payable by ABC) = 0.49 * 20000 * 1.9608= $19,216 Dinner The organisation of the dinner at a restaurant is indicative of the fact that meal fringe benefits have been extended and resultant FBT liability needs to be computed. Total headcount for dinner at Thai restaurant (including associates) = 40 Total food expense = $ 6,600 Expense attributable to the employees only = (1/2)*6600 = $ 3,300 Hence, meal expense paid by employer on behalf of each employee = 3300/20 = $ 165 As the fringe benefit is nominal and lower than the threshold mark of $ 300, hence the employer can escape FBT liability citing the minor exemption benefit clause as per which, benefits below $ 300 are not levied FBT (Sadiq et. al., 2015). Due to a decrease in the number of employee to five, the quantum of the meal fringe benefit would increase to a value greater than $ 300 assuming that no change in the bill amount. Hence, FBT liability could not be escaped now, hence using actual method the FBT would be computed. Meal Fringe Benefit Actual Method (FBT payable by ABC) = 0.49 * 6600 *2.1463 = $ 6,941 GST input credits to the tune of $ 600 paid on the food bill could be used by the employer to lower the tax liability (Barkoczy, 2015). In line with the provided information, even clients are part of the invitees only and therefore the suitable method of deriving FBT liability would be the 50:50 split method as exhibited follows. Meal Fringe Benefit 50: 50 split Method (FBT payable by ABC) = 0.49* 0.5*6600 *2.1463 = $ 3,471 Conclusion Based on the above discussion, it is fair to conclude that FBT liability arise only on payment of school fees and the dinner at the Thai Restaurant. The FBT payable on dinner by ABC keeps on altering based on the headcount of invitees and the inherent composition of the same particularly in regards to clients presence or absence. References Barkoczy,S 2015.Foundation of Taxation Law 2015,7th edn, CCH Publications, North Ryde Deutsch, R, Freizer, M, Fullerton, I, Hanley, P, Snape, T 2015. Australian tax handbook, 8th edn, Thomson Reuters, Pymont Gilders, F, Taylor, J, Walpole, M, Burton, M. Ciro, T 2015. Understanding taxation law 2015, 8th edn, LexisNexis/Butterworths. Hodgson, H, Mortimer, C Butler, J 2016, Tax Questions and Answers 2016, 5th ed., Thomson Reuters, Sydney, Nethercott, L, Richardson, G Devos, K 2016, Australian Taxation Study Manual 2016, 4th ed., Oxford University Press, Sydney Sadiq, K, Coleman, C, Hanegbi, R, Jogarajan, S, Krever, R, Obst, W, and Ting, A 2015,Principles of Taxation Law 2015,8th edn, Thomson Reuters, Pymont Wilmot, C 2012, FBT Compliance guide, 6th edn, CCH Australia Limited, North Ryde Woellner, R 2014, Australian taxation law 2014, 8th eds., CCH Australia, North Ryde

Hades/Pluto Essay Example

Hades/Pluto Essay Hades, in Greek mythology is the god of the Underworld and the ruler of the dead. He is also known as Pluto, the god of wealth.He is the brother of Zeus and Poseidon, and therefore considered thefirst generation of Olympian gods.However, he was not considered an Olympian god.He was considered a Chthonian (from the Greek word chthon, meaning earth).The Chthonian gods inhabited the opposite realm from the Olympians (Zeus, Hera, Aphrodite, etc) and were considered to be darker and gloomier characters.According to myth, the three sons of Kronos and Rhea Zeus, Poseidon, and Hades each drew lots to determine which part of the world they would rule. Zeus and Poseidon received the sky and the seas respectively, leaving Hades, who had the worst draw, with the Underworld.Hades was considered to be a greedy and unpitying god, which made him the most feared among man and the gods. He is the King of the dead but, death itself is another god, Thanatos. Hades ruled to realm of the dead alone.That is, until he became enamored with the goddess Persephone, the daughter of Demeter.Hades abducted Persephone from the upper world; Demeter then went about looking for her daughter all over the earth with torches every day and night, and during that time she did not allow the earth to produce any food for the mortals. When Demeter finally found out what happened, she ordered Hades to send back Persephone.However, before she left he gave her a pomegranate to eat.Not foreseeing the consequence, she swallowed it, binding her to the Underworld for all eternity. At Demeters arguments, Hades made a concession that since Persephone ate two pomegranate seeds; she would spend two seasons each in the upper and lower world.Demeters moods at Persephones arrival and departure is said to be why we have the seasons. Hades, although ruling alone, had various helpers in the Underworld.He was assisted by Thanatos,