The Symbolic Use of Light and Dark in James Baldwins...

The Symbolic Use of Light and Dark in James Baldwins Sonnys Blues In James Baldwins Sonnys Blues a pair of brothers try to make sense of the urban decay that surrounds and fills them. This quest to puzzle out the truth of the shadows within their hearts and on the streets takes on a great importance. Baldwin meets his audience at a halfway mark: Sonny has already fallen into drug use, and is now trying to return to a clean life with his brothers aid. The narrator must first attempt to understand and make peace with his brothers drug use before he can extend his help and heart to him. Sonny and his brother both struggle for acceptance. Sonny wants desperately to explain himself while also trying to stay afloat and out†¦show more content†¦In this instance light seems to be simply the good within a young Sonny. His brother is quickly reminded however that just as Sonnys face was once light there were shadows too. Recalling this younger Sonny forces the narrator to think of the other young boys he teaches. He connects the darkness tha t Sonny faced with the darkness and reality those other young boys live with, All they really knew were two darknesses, the darkness of their lives, which was now closing in on them, and the darkness of the movies, which had blinded them to that other darkness, and in which they now, vindictively, dreamed, at once more together than they were at any other time, and more alone, (410). Here Baldwin gives us our first sense of the pervasive nature of darkness. It is engulfing the boys without their realizing it, darkness is the wasted chances or lack of opportunity at all. The movies show the youths a fairy tale of what could be but will never happen. This darkness of what could have been keeps the young boys from attempting anything. They are together in this sentence of fate but they are also painfully alone, because nothing will ever come of them. The young boys of Harlem live in a dark reality; they do not know light and therefore cannot know hope. The narrator begins to und erstand that there is no way out of the darkness for them and no escape from the reality of drugs and crime that surrounds them. Sonny is aware of the darkness which engulfs him. HisShow MoreRelatedSymbolism in Sonnys Blues by James Baldwin Essay1286 Words   |  6 PagesSymbolism in â€Å"Sonny’s Blues† by James Baldwin In James Baldwin’s â€Å"Sonny’s Blues,† the reader meets Sonny, a recovering addict, and his older brother, a high school teacher. Although these two brothers have completely different lives and personalities, the author’s use of symbolism brings them more tightly together like a real family. Baldwin uses symbols such as ice, lightness and darkness, and jazz music to add more depth and meaning to â€Å"Sonny’s Blues.† People usually think of ice or the coldRead MoreSonnys Blues1061 Words   |  5 PagesIn James Baldwins Sonnys Blues the symbolic motif of light and darkness illustrates the painful nature of reality the two characters face as well as the power gained through it. The darkness represents the actuality of life on the streets of the community of Harlem, where there is little escape from the reality of drugs and crime. The persistent nature of the streets lures adolescents to use drugs as a means of escaping the darkness of their lives. The main character, Sonny, a struggling jazzRead MoreThe Light and Darkness of Suffering Depicted in Sonnys Blues2446 Words   |  10 Pagespain that defines us as individuals. The question becomes do we let suffering consume us, or do we let it define our lives? Through James Baldwin’s story, â€Å"Sonny’s Blues†, the manner by which one confronts the light and darkness of suffering determines whether one is consumed by it, or emb races it in order to â€Å"survive.† Viewing a collection of these motifs, James Baldwin’s unique perspective on suffering as a crucial component of human development becomes apparent. It is through his compassionate portrayalRead MoreViolence And Darkness In Sonnys Blues1027 Words   |  5 Pagesheritage. During the 1920s, jazz became a huge musical movement, especially in Harlem. This period of time is coined â€Å"The Jazz Age.† Along with being known for jazz, Harlem is also well known for its violence and being poverty ridden. James Baldwin’s â€Å"Sonny’s Blues†, is a short story about a family living in Harlem, particularly two brothers, and their struggles growing up. The narrator, also the older brother, joins the military leaving his younger brother and brother behind. During his absence

Case History on Best Buy Free Essays

string(43) " must find a new way to attract customers\." Best Buy, Inc. Case Study: Case History Clayton Bender, Justin Swanson, Kaitlyn Krause, Michelle Chambers, Elmon Tanielian Company Background: Best Buy Co. , Inc. We will write a custom essay sample on Case History on Best Buy or any similar topic only for you Order Now operates as a multinational retailer of consumer electronics within the services industry. Founded in 1966 under the name Sound of Music, Inc. , Best Buy underwent a name change in 1988. It was founded by Mr. Richard M. Schulze and is headquartered in Richfield, Minnesota. Best Buy operates under a Board of Directors but is a publicly traded company owned by stockholders. The company operates retail stores and call centers and conducts online retail operations under a range of brand names such as Best Buy, Best Buy Mobile, The CarPhone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Pacific Sales and The Phone House. Best Buy is the 11th largest online retailer worldwide and ranks #468 on the Forbes Global 2000 (Global 2000 Leading Companies, 2012). The mission of Best Buy, though not directly outlined as such, can be summed up by a quote from the CEO. Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers—and we rely on our employees to solve those puzzles. Thanks for stopping† (About. com). Best Buy’s vision is, â€Å"To make a meaningful and lasting impact on the quality of life in the countries and communities we serve. † Best Buy has four primary values that govern decision-making processes; unleash the power of our people, learn from challeng es and change, show respect, humility and integrity, and have fun while being the best (Code of Business Ethics, 2013). Best Buy’s Market Philosophy: Best Buy operates in all 50 states, districts and territories within the United States. Various brand names under the Best Buy Inc. umbrella exist throughout the geographic area including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales (Best Buy 10k Report, 2012). In the US alone, Best Buy reaches nearly 1 billion consumers each year in stores, on BestBuy. com and on m. BestBuy. com or the mobile shopping website. Out of the $165 billion per year spent on electronics in the U. S. , more than 6% of that is at Best Buy —ahead of Wal-Mart Stores (12%), Amazon. com (5%), Costco (3. 5), and Target (2. 5%) (On Best Buy Media Network, 2011). Within the domestic market, store development is aimed at multi-channel retail points of presence that focus on a given local environment, while simultaneously decreasing overall store square footage. To do this, the company anticipates closing approximately 50 large format U. S. Best Buy branded stores in fiscal year 2013 to explore other options, as well as downsizing to appeal to increasingly popular online shopping trends. They have also decided to close all Best Buy branded stores in the UK, Turkey, and China. They instead chose to focus their attention on their Five Star branded stores in China, and their CarPhone Warehouse, and Phone House stores in Europe. Best Buy’s international market is comprised of operations in Canada (Best  Buy, Best  Buy Mobile, Cell Shop, Connect Pro, Future Shop and Geek Squad), Europe (The CarPhone Warehouse, The Phone House and Geek Squad), China (Five Star), and Mexico (Best Buy and Geek Squad) (Best Buy 10k Report, 2012). These varied brands allow the company to include several lines of consumer retail products such as mobile phone products, entertainment products, appliances and related services that are tailored to appeal to each niche market. In 2012, international markets generated 26% of Best Buy’s revenue (Best Buy 10k Report, 2012). In the Canadian market, Best Buy is the fastest-growing specialty retailer and â€Å"e-tailer† of consumer electronics, PCs, and entertainment software. Best Buy focuses on children and communities, attempting to â€Å"help youth develop their skill set, discover their talents, and sustain a lasting interest in education† (About Us, 2013). Best Buy has decided to close their large-format Best Buy branded stores in China, Turkey, and the United Kingdom in order to reach areas that offer the best growth opportunity to particular locations (Best Buy 10k Report, 2012). Competitive Environment: Best Buy’s competitors range between online retailers (Amazon), big box retailers (Target and Wal-Mart), club stores (Sam’s Club and Costco), pecialty electronic retailers (Apple), and home improvement stores (Home Depot and Lowes). Some Best Buy rivals compete purely on price, while others compete on experience. Best Buy believes that online retailers will have their price advantage reduced as state governments around the country re-evaluate sales tax laws that allow some online competitors to offer lower prices. Additionally to combat price wars Best Buy also has price matching policies for other brick and mortar retailers and during this last holiday shopping season even matched some online retailers’ prices (Best Buy to Match Online Prices, 2012). With the elimination of Best Buy’s biggest rival, Circuit City, they are left to focus on competitors such as Amazon, Wal-Mart, and Home Depot. None of these stores compete directly with Best Buy in every segment, but each of them offers products that compete directly with Best Buy. As shown in Exhibit 1, while Best Buy does compete with Home Depot and Lowes, the effect of appliances on Best Buy’s sales is quite small, accounting for only 5% of sales in 2011. Because there are no stores which offer a value proposition exactly like Best Buy, it presents a problem when analyzing financial statements of Best Buy’s main competitors (Best Buy 10k Report, 2012). See Exhibits 2-5 for detailed copies of Amazon and Wal-Mart financial statements. Trends- Best Buy competes in the electronics stores and consumer electronics industries. The industry overall is heading into new territory as online shopping continues to take over the market. Recently, traditional big box stores such as Best Buy have been threatened by an increase in online consumption tendencies. Often, consumers will use stores such as Best Buy as a showroom to test new products, make a purchase decision, but then go home and find a cheaper price online. With many established, online retailers of consumer electronics on the web, retailers must find a new way to attract customers. You read "Case History on Best Buy" in category "Essay examples" The various methods of promotional channels such as large and small structured stores, websites, and kiosks, are all ways the company is tailoring to the market they are attempting to reach. Marketing: Products and Services- Best Buy specializes in technological goods and services. This includes home office, consumer electronics, appliances, and entertainment software. Best Buy is an ideally suited ‘one-stop-shop’. Best Buy offers Geek Squad Technical Support to consumers to aid with any difficulties or defects, to ensure customer happiness, and build loyalty. Also offered is a low-price-guarantee, where Best Buy will match the price if you find a lower price on an identical available product at a local retail competitor’s store, a local Best Buy retail store or BestBuy. com (Best Buy 10k Report, 2012). As Best Buy is not a manufacturer of unique products, the main differentiating factors would be their low-price-guarantee and the in-home service â€Å"The Geek Squad†, which offers personalized technical support. In addition, there are many products that are exclusive to Best Buy, such as certain televisions, video games, and computer devices. Distribution- Best Buy sells products through both its 1,103 retail locations and their website bestbuy. com. Domestic Distribution- Inside the U. S. , most Best Buy products are shipped directly from the manufacturers to the regional distribution centers. The exceptions to this method are large TV’s and appliances which are shipped from producers to specific satellite warehouses in each major market. In certain cases, where release dates play a large role in a product, the item will go directly from the producer to individual Best Buy stores (Best Buy 10k Report, 2012). Products purchased online are either picked up in store, or shipped directly to consumers via the same regional distribution centers the stores receive their products from. International Distribution- In Europe, Best Buy’s two small cell phone stores have their products shipped from manufacturers to regional distribution centers and then to the stores. Individual stores hold only immediate stock requirements while distribution centers hold additional merchandise. Best Buy stores in Canada and Mexico follow the distribution method used in the U. S. (Best Buy 10k Report, 2012). Promotion- The customer base is primarily centered on high income earners (75,000+), 24-54 aged males who have children (ad example targeting this listed in exhibit 6). Best Buy shoppers are viewed as mobile, technically savvy, advanced digital users, who are highly engaged in learning about technology as well as encourage their children to learn about technology, too (On Best Buy Media Network, 2011) (promotion example targeting this listed in exhibit 7). Including selling, general and administrative expenses, promotional costs were $995,000,000 in fiscal year 2012, $862,000,000 in 2011, and $709,000,000 in 2010 (Best Buy 10k Report, 2012). Best Buy has traditionally focused on media involving print, television, large-scale events, and is now shifting gears more towards digital advertising for promotional efforts due to consumer changes in shopping habits. Best Buy spends most of the promotional budget during the holiday season in response to high sales during Thanksgiving, Black Friday, Cyber Monday, and Christmas (Best Buy 10k Report, 2012). A detailed list of quarterly expenses can be found in exhibit 8. One of the largest and most expensive promotional efforts undertaken by Best Buy is the commercial segments aired during the Super Bowl. Best Buy has utilized this tactic for the past three years. In 2011, the commercial featured the celebrities Justin Bieber and Ozzy Osbourne. In 2012, it featured mobile innovations such as Instagram and the popular game, Angry Birds. For this upcoming Super Bowl, Best Buy will feature the comedian Amy Poehler. These are significant decisions considering this year’s thirty-second ad placement cost $4 million and is projected to reach over 100 million viewers (The Associated Press, 2013). Leadership: Best Buy’s Board of Directors, elected by the shareholders, is responsible for overseeing the business and affairs in order to manage the long-term interests of the company (Best Buy, Inc. , 2013). The Board of Directors is in charge of selecting and evaluating the performance of senior executives. There are four distinct committees structured within the Board: Audit Committee, Compensation and Human Resources Committee, Finance and Investment Policy Committee, and Nominating, Corporate Governance, and Public Policy Committee. A detailed visual of the organizational structure can be viewed in exhibit 9. Organizational Culture: Traditionally, Best Buy has been known for enforcing strict policies and encouraging employees to work overtime. In 2003, however, the corporate culture was radically changed to a system designed by two of the company’s own human resource department employees, Cali Ressler and Jody Thompson (Brandon, 2007). This system, known as ROWE or the results-only-work-environment, allows personnel to come and go as they please. Many corporate employees have no official office or work schedule. Similar systems have become popular in the advanced technical industry, including companies such as IBM, but no such corporate culture existed in a large retail company before Best Buy. The system is working to meet their goals, as employee turnover decreased drastically after implementation. However, recently, employee satisfaction has suffered as a result of a decrease in company profitability (Conlin, 2006). Stakeholders: The primary stakeholders are the stockholders; the individuals that have an active interest in the company’s successes and failures because their personal investments are directly impacted. Additional stakeholders include employees (who rely on the company to stay in business and guarantee their employment), consumers (who depend on the products and services of the company), and the surrounding community which Best Buy is committed to serving in their values. Currently, a general concern of stakeholders is the increasingly competitive nature of the of the electronic retail market. With e-retail and internet stores becoming more significant players in the market place, Best Buy seems to have become a place of research and testing by the consumer, rather than actual purchasing. Stakeholders are calling for innovative and differentiating factors to emerge for Best Buy to remain a key player in the consumer electronic market. In addition, as typical of most companies, the stakeholders of Best Buy want increased sales and profit margins, to hopefully lead to increased stock prices as well. Financials: Balance Sheet- Best Buy currently has approximately $16 Billion in assets, $12 Billion in liabilities, and $3 Billion in stockholder equity. Over the past three years, total assets and stockholder equity have been decreasing while total liabilities have been increasing. (Best Buy Balance Sheet) A detailed balance sheet can be found in exhibit 10. Income Statements- Best Buy had a loss in net income during FY 2012 of $1. 2 billion compared to net earnings of $1. 3 billion in 2011. A detailed balance sheet can be found in exhibit 11. Objectives ; Performance Strategy: Best Buy competes in a competitive retail industry constantly affected by the current state of the economy and consumer confidence. Such an industry presents difficulty in predicting consumer behaviors and corresponding sales. These tough times have forced Best Buy to begin transforming the company and hone in on strategies they believe will â€Å"offer the best opportunities to improve returns† (Best Buy 10k Report, 2012). Best Buy has committed to focusing on four main initiatives all revolving around that transformation and improving financial performance. Multi-year Cost Reductions- Best Buy aims to lower the cost structure of various areas of their business through improvements in efficiency as well as current investments designed to provide long term earnings benefits. These changes will include closing 50 of their large, brick-and-mortar stores within fiscal year 2013. In addition they aim to decrease the costs of goods sold as well as reduction in corporate and support structures (Best Buy 10k Report, 2012). U. S. Store Format Improvements- Best Buy will be revising their store formats in order to â€Å"increase points of presence, while decreasing overall square footage†. These changes will occur through increasing the number of their Best Buy Mobile stand-alone stores, decreasing their large-format stores, and to remodel key market Best Buy stores into their smaller, leaner, â€Å"Connected Stores (Best Buy 10k Report, 2012). Growth Initiatives- Best Buy will execute growth initiatives in e-commerce, connections, services, and China. They will approach growth in e-commerce with â€Å"more competitive online pricing, broader use of free shipping, the expansion of our online assortment, and further development of Best Buy Marketplace†. There will be a focus on increasing all mobile connection expertise, all product services, and store locations in China. Improved Customer Experience- Best Buy believes that they differentiate themselves from competitors through careful and persistent attention to the experiences their customers have. Through programs such as their â€Å"Perfect Match Promise† which provides customers with a 30 day period of full technical support, hassle-free returns, and competitor price matching as well as their Reward Zone loyalty programs, they desire to provide their customers with an incomparable experience as they shop at Best Buy. Finally, Best Buy aims to increase their enhanced training for employees in order to meet these customer service goals (Best Buy 10k Report, 2012). Works Cited Global 2000 Leading Companies. (2012, April). Retrieved from Forbes: http://www. forbes. com/companies/best-buy/ Best Buy Balance Sheet. (n. d. ). Retrieved from Yahoo Finance: http://finance. yahoo. com/q/bs? s=BBY+Balance+Sheet;annual Best Buy Income Statement. (n. d. ). Retrieved from Yahoo Finance: http://finance. yahoo. com/q/is? s=BBY+Income+Statement;annual Best Buy, Inc. (2011, January 23). On Best Buy Media Network. Retrieved from Best Buy Media Kit: http://www. bestbuymediakit. com/assets/files/Media_Kit_Presentation. pdf Best Buy, Inc. (2012). Best Buy 10k Report. Richfield: Best Buy. Best Buy, Inc. (2013, January 22). About Us. Retrieved from Best Buy Canada: http://www. bestbuy. ca/en-CA/about-best-buy-canada. aspx? path=9825360f7559258208ae2438cb28c580en99 Best Buy, Inc. (2013, January 22). Code of Business Ethics. Retrieved from Ethics Point: https://secure. ethicspoint. com/domain/media/en/gui/32565/code. html? 3 Brandon, J. (2007, April 4). Rethinking the Time Clock. Retrieved from CNN Money: http://money. cnn. com/magazines/business2/business2_archive/2007/03/01/8401022/index. htm Conlin, M. (2006, December 10). Smashing the Clock. Retrieved from Bloomberg Businessweek Magazine: http://www. businessweek. com/stories/2006-12-10/smashing-the-clock Kerrigan, H. (2012, April). Results-Only Work Environment Goes Public Sector. Retrieved from Governing: http://www. governing. com/topics/public-workforce/gov-results-only-work-environment-goes-public-sector. html The Associated Press. (2013, January 22). Best Buy Super Bowl branding spot will focus on humor, enlists Amy Poehler. The Washington Post, p. 1. Zimmerman, A. (2012, 10 12). Best Buy to Match Online Prices. Wall Street Journal. Exhibit 1: Best Buy’s Domestic Sales Allocation (Best Buy 10k Report, 2012) Exhibit 2: AMZN Income Statement Exhibit 3: AMZN Balance Sheet Exhibit 4: WMT Income Statement Exhibit 5: WMT Balance Sheet Exhibit 6: Promotional Ad Example Promotional Ad Source Exhibit 7: Promotion Example-Scholarship Program Promotion Example-Scholarship Program Source Exhibit 8: US Promotional Focuses Broken Down in Quarters On Best Buy Media Network, 2011) Exhibit 9: Organizational Chart Exhibit 10: BBY Balance Sheet Exhibit 11: BBY Income Statement Here are my thoughts†¦ The purpose of this Case History is to provide data for the next document, the Case Analysis. You should examine your Case History to ensure that it contains sufficient data for a complete Strategic Analysis—an Environment Analysis an d a Company Analysis. For example, do you have sufficient data to conduct a PEST Analysis? Do you have sufficient data for conducting a complete Competitive Forces Analysis? On page 5, you do not provide data under the heading of â€Å"Leadership†. On a more comprehensive scale, does the Case History tell the story of Best Buy, or is the Case History a collection of different pieces of data? Does the sequence of the data facilitate a story? From the Heading â€Å"Balance Sheet Analysis† to the end of the document’s text, you seem to be presenting an analysis. The purpose of the Case History, though, is to present data. The analysis should be saved for the next document, the Case Analysis. Midnight- Sunday, February 3rd Other points to Add: 5 Forces Model Highlights: Risk of Entry by competitors- * Low everyone is in that wants to be * Intensity of Rivalry * High * Bargaining power of buyers * High price and experience dictate where we go * Bargaining power of suppliers * Low buyers took control * Closeness of substitutes * No idea what a substitute would be †¦ * Power of complement providers * †¦ PEST Analysis: * Political * * Economic * disposable income levels affect the amount people want to spend on these goods * Social * Trending products * Technological * whoever continues to provide/produce the newest gadgets How to cite Case History on Best Buy, Essay examples

Australia Taxation Law Times–Changing Taxes

Question: Discuss about the Australia Taxation Law for TimesChanging Taxes. Answer: 1: Capital gain is achieved from the difference between acquisition cost of capital gain tax asset and capital proceeds. Capital gain is calculated by using three methods. First method is Discount method. This method is applied twelve months prior to the capital gain tax event. Second method is Indexation method. This method is applied when assets are obtained before 21st September. Prior to the capital gain tax event, this method will be on hold for more than twelve months. The final and third method is residual method (Woellner et al 2012). When the assets are kept in hold for less than twelve months then this method will be applied. Therefore, the capital gain computation can be calculated by using these three methods (Ato.gov.au, 2016). Exempted items from gain on sale of capital asset: There are certain properties which are obtained before 20th September 1985, are fiven below: Reimbursed amount for any serious injuries Motor vehicles Selling of residential house Any obtained collectable that cost less than $ 500 Carry forward and set off the losses: Short-term capital loss: Short-term capital loss can be gained from long-term capital gain or some source. Then it is carry forwarded to subsequent indefinite Assessment Years. It is obtained against both long-term gain and short-term gain (Taylor and McNamara 2014). Long-term capital loss: Long-term capital loss can be set up against long-term capital gain. There are no other set ups. It can be carry forwarded to subsequent indefinite Assessment years and only it can be set up against Long Term capital loss. According to the provided data, Mr. Dave bought a two-storey building for $ 70,000 and he lived there for last thirty years. on 27th June of the current tax year, he sold that building for $ 8, 50,000 . That house was actually sold through auction and as an advanced token, the buyer paid $85,000 (Sharkey and Murray 2015). However, eventually, the buyer did not have enough money to continue with the purchase. So, the money was deprived. The received $ 85,000 is charged as Income from other sources. Capital gain computation: Sale proceed $8, 65,000 Under CST I.E Family home exemption, it is exempted LONG TERM CAPITAL GAIN NIL On 20thSeptember, 1985, A pro hart painting was bought for $ 15,000 and then sold for$1, 25,000. The obtained Capital Gain: Sale proceed $ 1, 25,000 Less: Indexed acquisition cost 15,000*123.4/71.3 $25,961 LONG TERM CAPITAL GAIN $150,961 In late 2004, A luxury motor cruiser was bought for $ 1, 10,000 and then sold to local boat broker for $ 60,000 on 1st June of the current year. Capital Gain: Sales proceed $ 60,000 Less: Indexed acquisition cost $ 1,10,000 LONG TERM CAPITAL LOSS $ 50,000 On 10 January of the current year, he purchased a share parcel for $ 75,000 and then on 5 June of the current year, he sold that in a newly formed mining company for $ 80,000. He took a loan of $ 70,000 to purchase this share and then on the loan of $5,000, he paid interest. He also paid $250 in stamp duty and $750 as brokerage for sale during purchasing the share. According to income tax law, loan interest is not a part of acquisition cost. Therefore, the interest on loan was not included (Nyst and McAdam 2014). Part A: Capital Gain is described below: Sale proceed $ 80,000 Less: Brokerage $ 750 Less: acquisition cost $75,000 Less: stamp duty $250 SHORT TERM CAPITAL LOSS $ 4,000 Capital Gain for the year is described below: Long term capital gain for residential property sale $ NIL Long-term capital gain for painting sale $ 1, 50,961 Long Term capital loss for Boat sale $ 50,000 Short-term capital Gain for selling share $ 4,000 LONG TERM CAPITAL GAIN $ 1,04,961 Mr. Daves tax return for the previous year and the present year-end presents $10,000 as a net capital loss from the share sales. Therefore, it can be adjusted with long term capital gain of the present year. In the present year, the Net Long term Capital Gain is $1,04,961-$10,000 = $94,961 Part B: Net Capital gain is calculated as summation of all gain obtained from sale of capital assets and all loss incurred on sale of capital asset. The loss on sale of capital assets includes the loss from the previous year also. It can be stated that capital gain tax and separate tax are different. Capital gain assets make a part of assessed income. Gradually, tax should be paid on gain, which is occurred through sale of capital asset in the present income year, when the sale took place. In this way, Mr. Dove had earned gain on asset sale (Lee 2014). Because of that, this fund can be contributed to his personal superannuation fund. Mr. Dave should maintain certain relevant records during certain major and important transactions. These records include, paid bills in order to legal fees or ligation fees, purchase receipt, interest on loan etc. It also includes Records regarding maintainace and repairs of assets and records on paid broker on shares (delisted.com, 2016). Part C: Net Capital Loss is calculated as the summation of all loss achieved from capital asset sale. It also includes loss from the previous year. Capital loss cannot be set off from other source of income but should be carrying forwarded for upcoming years. Assets have the right not to be chosen as capital losses against any type of capital gain. However according to their choices such loss can be deducted against any capital gain (Keogh 2015). In this case, if Dave does not have sufficient Capital Gain, then he can take a loan or can sell his property, so that he can share to his personal superannuation fund. Later he can purchase a rented city apartment. In August of next year, when he will reach 60, he can withdraw tax free amount from that personal superannuation fund (Dabner and Burton 2015). 2: Part A: A bathtub manufacturer company named Periwinkle Pty ltd sells bathtub to the public directly. This company provided a car to Emma, one of its employees on 1st May, 2005. Emma has to do lot of travelling for office work. However that car is not only restricted for work purpose but also can be used for any reason. On 1st May, 2015, the company bought that car for $ 33,000 (Tucker 2013).In the period of 1st may 2015 to 31st March 2016, Emma completed 10,000 kilometers travelling by that car. Emma paid $ 550, as the expenses for the repairing of the car. This amount aws reimbursed by the company. During this repairing, the car was not in use for five days. Even later for 10 days, the car was not in use, as it was parked at the airport. On 1st September, 2015, Emma had taken a loan of $ 5, 00,000 from the company at an interest rate of 4.45%. From that loan amount, Emma bought a holiday home, which costs $ 4, 50,000. He gave Rest of the balance to his husband for share purchasing in Telst ra. Emma bought a bathtub from Periwinkle in the same year, for $ 13, 00 by thinking that the manufacturing cost of the bathtub in periwinkle was $700. However, third was sold at $2600 To public (Sadiq et al 2016). Fringe benefit tax: Fringe benefit is a tax, which has been given by the employer. This tax is paid on the benefits which one employer provides to an employee (Fisher 2015). This tax is applied on nontax benefits that are provided by the company to the employees. Certain exemptions from fringe benefit tax are provided below: Work related exemptions Exempted loans The company provided the car as a benefit to the staff and that car was used for work purpose. taxable value of less than $ 300 as benefit employee relocation cost If the house is located at remote place then housing allowance on behalf of that Fringe benefit tax is applied to Residual, Property, Car parking, transport, Airline, Housing Payment of Expense, and Car Loan. According to Fringe benefit tax, car will be used as any vehicle or station wagon that is used to carry goods on net weight of it or less than one tons. It is also defined as any vehicle which has the capacity to carry less than nine passengers. When the provided car is not meeting the definition of car according to fringe benefit tax, but employees are using it for private purpose, then such benefits provided by the employer to the employees will come under benefit. So the tax will be calculated from that. If the car is used for less than three months then it will be assumed that the employee is holding the car. From this incident, the tax will not be computed (Martin and Manwaring 2015). The car provided to Emma, moments the definition of the car according to Fringe benefit. Therefore, In this case, the tax will be applicable in respect to the car. A car c an be treated for private use when the car will not be at the premises of the employer. Here the car was provided for private use but it was observed that it was parked at employees premises. If the car will be in garage for repairing, then also the same definition will be applicable (Kendall 2014). In two methods, this tax can be calculated: Applying Statutory formula Cost Basis method As per the question: Base value of the car $33,000 Number of days car provided as fringe benefit tax = 335-5 = 3 Note: The 5 days when the car was sent for repairing will not be counted in total days, which were given to Emma for personal use. The days, when the car was parked at the airport will be calculated in total days. The day when the key of the car was given to Emma, will not be included in total days. During fringe benefit period, the car ran less than 15000km. As per the result, the rate will be 20%. Taxable Value $33000*20%*330/365 $5,967 Less expense incurred by employee $550 FRINGE BENEIFT TAX$5,417 Loan treatment by employer to employee at low interest rate: In respect of loan Fringe benefit, tax will be calculated as the loan, which an employer provides to its employee at a low interest rate (Kenny et al 2015). In other way, it also can be told that when an employer provides a loan at lower benchmark rate or interest free loan then the calculated tax fringe benefit is given below: The benchmark rate of Interest is 5.95% while the interest rate of provided company loan is 4.45% So, the fringe benefit tax is 5,00,000* 1.50% = $7,500 Part B: Now if Emma utilize the entire amount of loan by herself i.e. for buying property worth $ 4,50,000 and buying shares worth $ 50,000. Fringe benefit tax would be calculated as follows: a) Taxable value of the loan fringe benefit without the otherwise deductible value $7,5005,00,000*1.50% b) Ignore any interest charged and assume that the loan was interest free $29,750 $5,00,000*5.95% c) Now imagine that the employee had paid interest equal to the amount of taxable value $ 29,750*10/100 $2,975 d) Now think at the real situation if employee is being charged interest on loan $5, 00,000*4.45%*10% $2,225 e) Subtract c-e $ 2,975- $2,225 $750 Taxable value a-e 7500-750 $6,750 Debt Waiver Fringe Benefit: In this case, Emma bought bathtub for $1,300 which was sold in the market to general public for $ 2,600. So, the difference i.e. $ 2600-$1300=$ 1300 is fringe benefit liability. References: Dabner, J.H. and Burton, M., 2015. Changing TimesChanging TaxesChanging Ethical Perspectives: Defining the Limits of the Ethical Obligations of Australian Tax Practitioners.Available at SSRN 2701046. Fisher, R., 2015. 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