The Picture Of Dorian Gray Essay - 1871 Words

Artists of any art form tend to use real life experiences as their muse. Oscar Wilde was no exception. In creating the story of The Picture of Dorian Gray, Wilde used his experience of sitting in on a painting session, done by a Basil Ward. He then proceeded to comment on how it would be amazing if the painting aged while the subject of the painting did not. Throughout the novel, we notice this kind of lifestyle being lived out by Dorian and Lord Henry, but we also see how Dorian handles his conscience based on his actions. The Picture of Dorian Gray is a novel that, while it has its controversies over what its purpose is, is a novel that â€Å"can function as an appropriate text for a wide variety of classes† (Waldrep; Smith II 53). Despite what Wilde believed, practiced, and even the preface of the novel, Wilde wrote this novel as a lesson on morality. Oscar Wilde’s inspirations for writing The Picture of Dorian Gray comes from his own life. Oscar Wilde himself practiced aestheticism, or pleasing the self. A literary critic of Wilde’s work, Richard Ellmann, observes Wilde’s life as â€Å"bent on a subversion of propriety and sobriety† (1). He even used Mr. Basil Ward’s name for the character Basil Hallward (Wilde; Jullian; Lawler 406). He frequently looked to satisfy his own desires, whether they were morally or socially acceptable. He once was arrested for homosexuality, which was a crime in England at the time. Even Wilde’s encounters with his fellow writers prompted anShow MoreRelatedThe Picture Of Dorian Gray1482 Words   |  6 Pagesreturn give to the same story† (Foster 185-186). One book that is a part of Foster’s story is Oscar Wilde’s The Picture of Dorian Gray. In this essay, Thomas Foster’s methods regarding both symbolism and  ¬Ã‚ ¬Ã‚ ¬Ã‚ ¬heart di sease from his book, How to Read Literature Like a Professor will be discussed and applied to one of Oscar Wilde’s novels. Throughout his novel, The Picture of Dorian Gray, Oscar Wilde uses the portrait of the young protagonist as a symbol of many things, one of them being a mirror. WildeRead MoreThe Picture Of Dorian Gray Essay1460 Words   |  6 PagesAs seems to be the theme of Oscar Wilde’s book, The picture of Dorian Gray, art an beauty are both the same, yet they are different. But how can this be? Well, beauty and art are intertwined the moment art is used to capture a sliver of pure beauty, in order to make that moment last forever. According to Lord Henry, â€Å" Yes, Mr. Gray, the gods have been good to you. But what the goods give can easily be taken away. You only have a few years in which to live really, perfectly, and fully† (Wilde Pg.Read MoreThe Picture Of Dorian Gray1432 Words   |  6 PagesIn The Picture of Dorian Gray by Oscar Wilde, we see how the different characters show their love of beauty and pleasure and the affects they have on the main character: Dorian Gray. Each of the three main characters, Basil Hallward, Lord Henry Wotton, and Dorian Gray portray a part of how the author felt about himself and the world around him. â€Å"Basil Hallward is what I think I am: Lord Henry what the world thinks of me: Dorian what I would like to be- in other ages, perhaps† (qtd. in Bloom pg. 117)Read MoreThe Picture Of Dorian Gray1576 Words   |  7 PagesTransformation in Literature Greek Philosopher Heraclitus once said â€Å"There is nothing permanent except change†. In Oscar Wilde’s The Picture of Dorian Gray, the theme of transformation is constant throughout the novel; however it is not portrayed as something that is permanent. Through the protagonist’s transformation, Oscar Wilde s novel is suggesting that the hedonistic lifestyle, a lifestyle where gaining pleasure is the main goal of a person’s life, may seem like it is an exciting and wonderfulRead MoreThe Picture Of Dorian Gray965 Words   |  4 Pages When looking at Frankenstein and The Picture of Dorian Gray, it is clear that Frankenstein is a novel that can be placed into both the gothic and horror genre, although it is a gothic novel secondary to it being a horror novel; The picture of Dorian Gray isn’t so clear in this regard. On a first reading, one may assume the story to be gothic literature and only gothic literature because of the sheer amount of gothic characteristics and elements that the text presents that include, but are not limitedRead MoreThe Picture Of Dorian Gray957 Words   |  4 PagesWilde explores the theme of outsiders in his 1890 novel, The Picture of Dorian Gray. He infuses what it means to be an outsider in almost every character in the story. The most important of these characters are Dorian Gray, Henry, and Basil. Each show what it means to be an outsider in his own individual way; whether it is an outsider among society, among a group of friends, or from a person’s own self. The main character, Dorian Gray, possesses most attributes of being an outsider. The most obviousRead MoreThe Picture Of Dorian Gray971 Words   |  4 PagesIn Oscar Wilde’s Popular nineteenth century novel, the Picture of Dorian Gray demonstrates the importance of the aesthetic movement in Victorian England. This suggests youth and physical attractiveness is emphasized and are valuable additions to society. Therefore, what matters to Dorian, is not the internal goodness an individual possesses but the appearance they present. Consequently, Dorian is able to forget the violent acts he commits as long as he appears beautiful on the outside. Since externalRead MoreThe Picture Of Dorian Gray1680 Words   |  7 PagesAt the height of his success, Oscar Wilde wrote his novel The Picture of Dorian Gray, which follows the life of a young man living in late nineteenth-century London. The novel shares a similar storyline with that of Wilde’s life, as Wilde wrote it in attempt to justify his homosexuality. The protagonist of the novel, Dorian Gray, enters the story an innocent man, but eventually becomes corrupt due to his need for instant pleasure. Wilde recognizes that the topic of his homosexuality brings up theRead MoreThe Picture Of Dorian Gray1211 Words   |  5 PagesIn The Picture of Dorian Gray, Oscar Wilde warns against immorality, vanity and selfishness using his protagonist’s downfall to show the dangers of overindulgence and depravity. The preface is contradictory and reveals that Wilde’s beliefs on art and its ties to morality were inconsistent. He appears to be trying to show that we shouldn’t subscribe to just one clear ideal without questioning it or considering other opinions. However, it’s clear throughout the book that there is a strong moral ideologyRead MoreThe Picture Of Dorian Gray1283 Words   |  6 PagesWhat does the fall of man, Oscar Wilde novel The Picture Of Dorian Gray, and Shakespeare’ s Macbeth all have in common? They all have the same theme of the fall of man and break in the perfect union they once where in. The novels all start with man in perfect union, then sin enters and chaos starts and it eventually leading to their death or downfall. The Fall of man, Shakespeare’s Macbeth and Wilde’s novel The Picture Of Dorian Gray tightly follow the archetype of the fall of man this is all illustrated

Discussion Questions On Sexual Harassment - 791 Words

Discussion Questions 1. Which items were clear examples of sexual harassment? Numbers 9, 10, 11, and 12 were clear examples of sexual harassment. 2. Which items were examples of harmless behavior? Numbers 1-4 and six were examples of purely harmless behaviors in my opinion. 3. Where was there disagreement about the middle items? Numbers 5, 7, and 8 I did not think were clear examples of sexual harassment, but I do not think that they are entirely harmless behaviors. I believe that they could mean nothing depending on the person and the situation, but they may be indicators to be cautious of that individual. 4. What qualities or characteristics make the items above the line different from the ones below the line? The items above the†¦show more content†¦It is difficult because men and women perceive similar behaviors differently. Unless one person states that they feel uncomfortable the other will not be able to correct themselves. When someone keeping engaging in the behavior after you told them you are uncomfortable is when you should report it. WHERE DO YOU DRAW THE LINE? WORKSHEET Directions: The meaning of sexual harassment in the workplace varies from person to person. Whereas one person may interpret a behavior as sexual harassment, another person may disregard or find nothing wrong with it.Read the following list of superior-subordinate interactions at work. Draw a line under the item that separates acceptable workplace interaction from sexual harassment. Look carefully at the items directly above and below the line you draw. What qualities or characteristics make the items above the line different from the ones below the line? Draw a line under the item that separates acceptable interaction from sexual harassment. 1. A male supervisor helps a female subordinate perform physically demanding work. 2. A male supervisor pays for a female subordinate’s lunch. 3. A male supervisor asks a female subordinate out on a date. 4. A male supervisor touches or pats a female subordinate on nonsexual parts of her anatomy. 5. A male supervisor tells sexually oriented jokes when a female subordinate is present. 6. A male supervisorShow MoreRelatedMedia Exposure Has Influenced An Individual s Opinion1476 Words   |  6 Pagessomehow see their own opinions reflected back’†. Sexual harassment is defined as â€Å"unwanted, sex-related comments and behaviors that are appraised as offensive exceedingly available coping resources, or threatening (Buchanan, Rederstorff, Settles, 2005).† It is also unwelcomed attention in a sexual nature through verbal or physical interaction. It can occur in in high schools, in the workplace, neighborhoods, and the internet (Fogarty, 2006). Sexual harassment can happen to anyone, anywhere. It is notRead MoreThe Inequality Between Men And Women Based Solely On Gender1025 Words   |  5 Pagesprotests, and discussions since the early centuries. Gender inequality can happen in any setting, time, and place. However, gender inequality is highly likely inside the workplace. Many employers discriminate against woman and sometimes then do not even know that what they are saying or doing is considered discrimination. Gender inequality in the workplace happens during the interview process, after being hired, and it can be seen through the use of pay discrimination and sexual harassment. An interviewRead MoreSexual Harassment At The Workplace1359 Words   |  6 Pagesfor any company to legally define what constitutes sexual harassment in the workplace, but there are many ways to define sexual harassment. Everyone has different views and tolerance levels towards sexual harassment. When a case of sexual harassment occurs in a workplace, however, it comes down to how the courts define sexual harassment. The Supreme Court defines sexual harassment to be unlawful in two ways. â€Å"The first type involves sexual harassment that results in a tangible employment action;† thisRead MoreEssay about Sexual Harrassment1535 Words   |  7 PagesSexual Harrassment Sexual Harassment in the Work Place I. Definition Sexual harassment is a form of sex discrimination that violates Title VII of the Civil Rights Act of 1964. Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature constitutes sexual harassment when submission to or rejection of this conduct explicitly or implicitly affects an individual’s employment, unreasonably interferes with an individual’s work performanceRead MoreSample Resume : Gencare, Llc1504 Words   |  7 Pageswho believe that they may require accommodation should discuss these needs with the Executive Director. If you have any questions regarding this policy, please contact the Executive Director. Commitment †¢ GenCare is committed to providing equal opportunities for all employees and applicants without regard of race, color, religion, national origin, sex, age, marital status, sexual orientation, disability, political affiliation, personal appearance, family responsibilities, or any other characteristicRead MoreEssay on Ilac Anti-Discrimination Law1698 Words   |  7 PagesAnti-discrimination Law Question 1: [Sexsual harassment] Sue works for a company called X-Pest Pty Ltd. One day Sue walked into the lunchroom of the business. In the lunchroom was a number of male and female staff that were looking at the latest Queensland Netball Team calendar called â€Å"Chicks of Netball†. The players in the calendar were semi-naked. As Sue walked into the room, Bruce, who knew Sue was very shy around men, was pinning up Miss October on the staffroom fridge. As Sue came overRead MoreSexual Harassment And The Workplace1608 Words   |  7 Pagessubject to sexual harassment ranging from sexually degrading comments to physical acts of sexual assault. Unfortunately for the women working at the mine, that was only the beginning of the harassment they’d experience. If this was not damaging enough, women were deterred, if not, outright sanctioned for reporting instances of harassment to management. It is reasonable to assume that culture at Pearson Taconite and Steel fostered a hostile work environment for women. Though the issue of sexual harassmentRead MoreSexual Harassment And The Workplace1697 Words   |  7 PagesSexual Harassment in the Work Place: Building More Awareness In today’s society, sexual harassment in the workplace has become a problem. This problem should have more attention and awareness provided to help stop these situations from happening. Sexual harassment can happen anywhere, at any time, and to everyone. It does not discriminate and effects all ethnicity, genders, age, and races. Due to the larger number of cases presented in courts today, sexual harassment in the workplace continues toRead MoreGuidance Lesson Plan Essay1219 Words   |  5 Pagesdifferent ones including harassment, attitude, and stereotyping. Each of them are to help gain respect for the student themselves and his or her classmates and acquaintances. 1st Lesson The first lesson plan is called Leave Me Alone! Harassment. The lesson is designed for 8th graders and is scheduled to be 30 to 45 minutes. The domain of lesson will be social/emotional and the content standards is AA.S.7. â€Å"Students will recognize and understand the degrees of harassment† Harassment. (n.d.). This a hands-onRead MorePatriarchy And Oppression Of Women1122 Words   |  5 Pagesabout patriarchy based on our monolithic concept from colonialism. Vrushali Patil and Amrita Basu talk about the failure of patriarchy recognized internationally through an intersectional lens, and its impact on domestic life for Muslim women. This discussion on international patriarchy and oppression of women lead me to read Tuesday’s, April 18th, Afghan’s journalist Zahra Nader and Mujib Mashal’s article titled, â€Å"In Afghanistan, Women Struggle After a Divorce.† Nader and Mujib are journalists in the

Audit Free Essays

Explain the impact of key court cases on the public accounting profession. 4. Describe auditor liability, discuss auditor responsibilities, identify possible auditor defences, and discuss possible remedies and sanctions available under both common law and statutory law. We will write a custom essay sample on Audit or any similar topic only for you Order Now 5. Identify professional requirements that help assure audit quality and minimise auditor exposure to liability suits. 6. Describe defensive actions that audit firms can take to limit the effects of litigation on audit firms and individual auditors. 7. Apply the decision analysis and ethical decision-making frameworks to issues that could result in litigation. Teaching Suggestions Even though most audits are properly performed, a significant ppercentage of the gross revenue of public accounting firms is spent on professional liability insurance and litigation costs. Litigation costs and settlements caused Andersen, once the world’s largest public accounting firm, to declare bankruptcy. In today’s litigious environment, it is extremely important that auditors use due professional care to minimise such costs. Even when due professional care is exercised, the government, iinvestors, and clients may still sue auditors. This chapter discusses the legal environment and concepts related to audits, and approaches to minimising exposure to liability. It also looks at several key court cases and their impact on the profession. The challenge when teaching this material is to impart to sstudents a genuine understanding of the legal environment in which auditors operate without overwhelming them with material to memorise that they are unlikely to remember. This challenge is heightened by the need to stress the importance of ‘liability avoidance’ without leaving the impression that it is the major focus of the audit process. Begin by reviewing pertinent legal terminology. Then discuss the litigious climate for auditors and how that climate has changed over the past few decades. Reasons for the increase in litigation, often settled out of court include greed on the part of unscrupulous financial report users and preparers, ignorance and neglect on the part of auditors, and a volatile business climate characterised by numerous business failures. Public distrust adds to the problem. Stress the impact of litigation on the profession: (1) considerable resources expended to litigate, (2) some distrust and loss of credibility in the public accounting profession which is heightened by negative media coverage, (3) proliferation of new auditing standards, and (4) pressure from stock exchanges which has resulted in the establishment of audit committees and ‘comfort letters’ to underwriters. It is helpful to go over the concept of due care found in tort law. Ask sstudents how they view their liability if, as new employees, they are asked to complete a task that they do not feel qualified to do. Explain the imprecision of the ‘reasonable man’ concept and the problems that arise when ‘ordinary citizens’ sit on juries involving technical matters with which they are unfamiliar. The text outline can be followed when discussing the specific legal concepts that affect the auditing profession including the auditors’ liability to clients and third parties. How to cite Audit, Papers

Australian Taxation Law Assignment †Solution is just a Click Away

Questions: 1. Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: salary of $300,000; payment of Alan's mobile phone bill ($220 per month, including GST). Alan is under a two-year contract whereby he is required to pay a fixed sum each month for unlimited usage of his phone. Alan uses the phone for work-related purposes only; Payment of Alan's children's school fees ($20,000 per year). The school fees are GST free. ABC also provided Alan with the latest mobile phone handset, which cost $2,000 (including GST). At the end of the year ABC hosted a dinner at a local Thai restaurant for all 20 employees and their partners. The total cost of the dinner was $6,600 including GST. (a) Advise ABC of its FBT consequences arising out of the above information, including calculation of any FBT liability, for the year ending 31 March 2015. Assume that ABC would be entitled to input tax credits in relation to any GST-inclusive acquisitions. (b) How would your answer to (a) differ if ABC only had 5 employees? (c) How would your answer to (a) differ if clients of ABC also attended the end-of-year dinner? 2. Rubber Co manufactures tennis balls. On 1 January 2010, Rubber Co purchased a new machine for $1.1m (inclusive of GST) which it used to produce the tin cans in which its tennis balls were placed for sale to retailers. At the time of acquiring the machine , Rubber Co estimated that the machine would have an effective life of 10 years before it needed to be replaced. Subsequently, on 1 January 2014, as a result of new technology, a better quality machine became available and Rubber Co decided to sell the original machine for $330,000 (inclusive of GST) and purchase a new machine for $2.2m (inclusive of GST). Requirement: What are the tax consequences of these arrangements under Div 40ITAA97? Answers: (1). Issues In the given case, Alan is employed by ABC Pvt, Ltd. He is offered a salary package of $3000, 000. Further benefits that would be provided to Alan by ABC Ltd. include payment of mobile phone bill, childrens school fees and a mobile handset. There is also an offer of year end dinner at a restaurant by the employer for all employees. In the given scenario the consequences of the Fringe Benefits provided by the employer is discussed. Along with the calculation of tax liability at the end of 31st March, 2015 is also provided. Law Fringe Benefit tax was founded in 1986. It is a tax paid by the employer on certain benefits provided to the employee or employees family (Martin 2015). As per the act the definition of benefits includes services, rights, privilege or facility provided by the employer (Woellner et al. 2012). The definition of fringe benefit does not include salary, allowances, superannuations etc. The fringe benefits that are taxable under the act includes car fringe benefit, loan fringe benefit, housing fringe benefit, Airline transport fringe benefit, entertainment fringe benefits, meal entertainment fringe benefit, residual fringe benefit, Debt waiver fringe benefit, expense payment fringe benefit, living away from home fringe benefit, board fringe benefit, car parking fringe benefit and property fringe benefit (Shields and North-Samardzic 2015). The rate of fringe benefit tax is 45% and 1.5% of Medicare levy which comes to 46.5%. The year that is followed for calculating the taxable fringe benefit is 1st April to 31st March of next year (Edmonds 2015). It is to be noted that items provided by the employer which are related to work for example mobile, laptop, computer, calculator etc are exempted from tax. The other exempted fringe benefit includes periodicals newspaper, workers compensation insurance, subscription membership fees etc (Pearce and Hodgson 2015). Application As per the above discussion expenses of employee paid by employer is a taxable fringe benefit. In the given case Alans Mobile phone bill of $220.00 per month payable by the employer is a taxable fringe benefit. The school fees of children $20000.00 per year is also a taxable fringe benefit. But the mobile handset given by the employer is exempted from fringe benefit tax (Stanley McCue 2014). As the year end dinner is only provided to employees and their partners then it amounts to special benefit given by the employer to employees so is taxable under Fringe Benefit Tax (Vomerbumer 2013). For the purpose of calculation there are two type of fringe benefit- Type 1fringe benefit and Type 2 Fringe Benefit. If the employer is entitled to input tax credit of GST on the fringe benefits provided to its employees then it is a Type1benefit. The Type 2 benefit does not include claim for GST tax credit. For the purpose of calculating gross up value in case of Type 1 Fringe benefit it is multiplied with 2.0647 and in case of calculating Gross up value for Type2 benefits the fringe benefit is multiplied with 1.8692 (Tran-Nam 2015). Calculations: (a) Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Year End dinner cost $ 330.00 Type 1 Aggregate $ 2,970.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Children School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 2,970.00 $ 2.06 $ 6,130.08 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 43,514.08 Amount Of Tax Payable( 46.5% rate) $ 20,234.05 (b) If there are only 5 employees instead of 20 then cost of dinner per head will increase and tax payable will also change to 21,184.21. Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Year End dinner cost $ 1,320.00 Type 1 Aggregate $ 3,960.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Childrens School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 3,960.00 $ 2.06 $ 8,173.44 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 45,557.44 Amount Of Tax Payable( 46.5% rate) $ 21,184.2 (C) In the given question, if the yearend party is also attended by the clients then it is not a benefit given only to employees. In such case it will not be considered as fringe benefit. Then tax payable will be Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Type 1 Aggregate $ 2,640.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Childrens School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 2,640.00 $ 2.06 $ 5,448.96 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 42,832.96 Amount Of Tax Payable( 46.5% rate) $ 19,917.33 Summary From the above it can be concluded that Fringe Benefit tax is paid by the employer. The taxable amount depends on the nature of the benefit and whether the employer is eligible for GST credit. The ABC ltd. is advised that if Alan is employed with the present remuneration package then the company will be liable to pay $20234.05 as Fringe benefit taxes. If there is only 5 employees instead of 20 employees then Fringe Benefit Tax increases to $21184.21. But if the company arranges the year end party for all including clients then that expense will not be considered as Fringe benefit. So the Fringe Benefit tax will then be 19917.33. It is advised to reduce the Fringe Benefit Tax the third option is the best. (2). Issues What are the tax consequences when a Rubber manufacturing Co purchase a new machinery (depreciable asset) having a life of 10 years but disposed it after using 4 years for business purpose i.e. manufacturing of rubber. The machinery was disposed because a new machine with better quality was available in the market as a result of new technology and new machinery was purchased in its place. Legal As per Australian tax Office (ATO) depreciation is available on asset purchase and used for the purpose of business like plant and machinery used for the manufacturing or production process. Depreciation means decline in the value of asset over the period of time the asset is being used for business purpose. Depreciation is calculated over the estimated life of the asset. As per Division 40 there are two methods for calculating depreciation as per ATO which are: Prime Cost- Under this method depreciation is calculated over the life of the asset at a fixed percentage (Rate of Depreciation) calculated as follows (Depreciation each year/ Cost of the Asset)*100 Where, Depreciation each year=Cost of the Asset/Estimated life of Asset In this method depreciation each year is same. If the life of the asset cant be estimated by the Company purchasing the asset then it can take the estimated life of given by ATO The formula given by ATO for calculating Depreciation of a particular year is as follows- Asset Cost*(No. of days asset was held during the Year/No. of days in the year)* Rate of depreciation Diminishing Value method-Under this method depreciation is calculated on the written down value or adjustable value of the asset at the beginning of each year. Adjustable value is calculated by deducting decline in the value of the asset from the cost of the asset in the 1st year and from the Opening adjustable value from the 2nd year (Woellner et. al. 2012). Opening adjustable value means the closing adjustable value of the previous year. In this method Depreciation each reduces from the previous year (Palmer 2013) The formula given by ATO for calculating Depreciation under Diminishing Value method is as follows- Year 1: Cost of the asset* (No. of days asset was held during the Year/No. of days in the year)*(200%/5) From Year 2, Cost of the asset will be replaced by opening adjustable value of respective year. This process will continue until the cost of the asset becomes Zero. As per ATO, Goods and Sales Tax (GST) is to be excluded from the cost of the asset while calculating Depreciation. But other expenditure which are incidental to the acquisition of the asset are to be included in the cost of the asset like installation expenses, transportation expenses etc. As per ATO, credit of GST is available for the amount of GST paid on purchase of asset. GST credit is available for the proportionate part of asset used for the purpose of business (Sadiq et al. 2016). After the asset is partly being used for the purpose of the business and disposed of then decreasing adjustment has to be made for the Proportionate credit of GST not availed for the part used for private purpose. But if no part of the asset is used for private purpose then no decreasing adjustment is required to be made. When a asset is disposed of the difference between termination value and adjustable value is to be accounted for in the book of accounts(Ramli et al. 2015). If the termination value is more than the adjustable value then the difference is to be added to the assessable income and if the termination value is less than the adjustable value then the difference is to be deducted from the assessable income. Termination value is the sales price of the asset while adjustable value is the cost of the asset minus depreciation allowed upto the date of sale or termination(Ey.com, 2016). Application Applying the above provision given above the tax implication in the hands of Rubber Co are as follows :- Computation of Depreciation Each Year And Adjustable Value Depreciation Each Year 100000 Rate of Depreciation 10% Year ended(as on 30th June) Opening Adjustable value($) Decline In Value($) Closing Adjustable Value($) Remarks 2010 1000000 49589 950411 GST is being excluded from opening adjustable value(as per ATO) 2011 950411 100000 850411 2012 850411 100273 750138 2013 750138 100000 650138 2014 650138 50684 599454 $ Remarks Termination value 300000 (Exclusive Of GST) Less: Adjustable value 599454 Deductible Balancing adjustable amount -299454 To be deducted from assessable income So depreciation is available to the rubber co in the year of purchase(1st January 2010) of asset from the date asset is put to use and in the year of sale up to the date of sale of asset(1st January 2014). Depreciation for the year 2012 is more than 100000(i.e. $100273) because it was a leap year (Barkoczy 2013). GST are being excluded from the cost of asset as it is assumed that the rubber co has availed credit for the payment of GST on purchase of machinery (Athvankar 2015). Since 100% of the asset is being used for the purpose of the business so decreasing adjustment is not required at the time of disposal of asset. It is being assumed that the rubber co has adopted the prime cost method of calculating depreciation. The difference between the termination value and adjustable value which is $299454 is to be deductible from the assessable income as termination value is less than the adjustable value. Rubber co has to pay GST of $30000 on the purchase of new asset and can avail credit of it Conclusion So from the above discussion, the tax implication on the rubber co as per Div 40ITAA97 on purchase and disposal of asset is clearly understandable (Santucci 2014). The rubber co will be allowed deduction for each year the asset is being held by it. And on sale the difference between the termination value and adjustable value is deductible from the assessable income as termination value is less than the adjustable value. Rubber Co will also get the credit of GST paid on purchase of asset. No decreasing adjustment is required as no part of the asset is used for private purpose. Reference Athvankar, S.P., 2015. Goods and Service Tax a path breaking reform in indirect taxes special reference to financial services supply. Barkoczy, S., 2013.Foundations of taxation law. CCH Australia Ltd. Martin, F., 2015. Overseas travel by employees: When does FBT apply?. Palmer, T., 2013. UQ Library Guides: Taxation Law: Get started. Pearce, P. and Hodgson, H., 2015. Promoting smart travel through tax policy.Tax Specialist,19(1), p.2. Ramli, R., Palil, M.R., Hassan, N.S.A. and Mustapha, A.F., 2015. Compliance costs of goods and services tax (GST) among small and medium enterprises.Jurnal Pengurusan,45, pp.1-15. Sadiq, K., Coleman, C., Hanegbi, R., Jogarajan, S., Krever, R., Obst, W., Teoh, J. and Ting, A., 2016. Principles of Taxation Law. Santucci, G., 2014. Understanding taxation law and Australian tax law [Book Review].Ethos: Official Publication of the Law Society of the Australian Capital Territory, (233), p.42. Shields, J. and North-Samardzic, A., 2015. 10 Employee benefits.Managing Employee Performance Reward: Concepts, Practices, Strategies, p.218.