Attribution Theory On The Decision Making Process Of Tom...

Explain attribution theory. Draw on the mini-case to identify and explain three biases or errors that may affect the decision-making process of Tom and Amy. Discuss why attribution theory is important in relation to organisational behaviour and decision-makers in organisations. Attribution theory, as a powerful model for explaining and exploring decision making in the job selection, which helps us to determine whether an individual’s behaviour is internally or externally caused. The attribution to which behaviour is related to three factors - distinctiveness, consistency and consensus. (Robbins, Judge, Millet Boyle 2011) If behavior displays low distinctiveness (same behaviour exhibits in different situations), high consistency (behaviour does not vary), low consensus (same situations displays different behaviours), which can be regarded as external attributions and vice versa. Attribution theory assists us to explain the behavior of interviewers and interviewees in job selection. In the case of interviewers, for example, Silvester (1997) showed that the attribution theory could be used to help explain the ratings given by interviewers. Interviewers tended to give higher scores when candidates made internal, stable and controllable attributions about their performance. On the other hand, several studies have shown that nonverbal interviewee communication (eye contact, smiling, posture, interpersonal distance and gesture) significantly influences interviewers ratingShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesPreface xxii 1 2 Introduction 1 What Is Organizational Behavior? 3 The Individual 2 3 4 5 6 7 8 Diversity in Organizations 39 Attitudes and Job Satisfaction 69 Emotions and Moods 97 Personality and Values 131 Perception and Individual Decision Making 165 Motivation Concepts 201 Motivation: From Concepts to Applications 239 3 The Group 9 10 11 12 13 14 15 Foundations of Group Behavior 271 Understanding Work Teams 307 Communication 335 Leadership 367 Power and Politics 411 Conflict andRead Moredigital marketing impact on consumer buying behavior13654 Words   |  55 Pagessupply of contact lenses. Lensmart uses database and purchase information to predict the repurchase moment and produce the personalized email. This way Lensmart can sell cost-effectively to their existing customers, and automate the re-selling process. 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That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions: (1) Attribution You must attribute the work in the manner specified by the author, namely by citing his name, the book title, and the relevant page numbers (but not in any way that suggests that the book Logical Reasoning or its author endorse you or your useRead MoreStrategic Human Resource Management View.Pdf Uploaded Successfully133347 Words   |  534 Pagesof Contents xii SECTION ONE STRATEGIC HUMAN RESOURCE MANAGEMENT Section One An Investment Perspective and Human Resources The conceptual framework for this text begins with an investment perspective for guiding managerial strategic decisions regarding human resources. Human resource management practitioners and management scholars have long advocated that human resources should be viewed from an investment perspective. 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Hk Tax Free Essays

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Edinburgh Napier University/SCOPE of City U Hong Kong Taxation LECTURE 1: Salaries tax and salaries tax planning, Double taxation arrangement with Mainland China Outline Salaries tax | |- |Scope of charge, format and presentation of salaries tax | |- |Locality of employment | |- |Taxability of fringe benefits | |Salaries tax planning | |- |Remuneration package and fringe benefits | |Double taxation relief | |- |Arrangement between Mainland China and the HKSAR | Textbook – Dora Lee, Advanced Taxation in Hong Kong, 15th edition, 2012, Pearson, Hong Kong, Chapters 2 to 5, 23 24 LECTURE 1: Salaries tax Under s8 of the Inland Revenue Ordinance, salaries tax is charged on every person in respect of his income arising in, or derived from Hong Kong from the following sources: 1) an office 2) employment 3) pension Source of Income from Office The source of income from an office is determined by the location of the office, which is at the place where the central management and control of the company is located. Normally, this means the place where directors hold their meetings. Once it is determined that an office is located in Hong Kong, the whole income from such office is chargeable to salaries tax. You read "Hk Tax" in category "Essay examples" We will write a custom essay sample on Hk Tax or any similar topic only for you Order Now No question of apportionment arises. Source of Income from Pension The source of income from pension is the place where the pension fund is managed. Source of Income from Employment A taxpayer having an employment located in Hong Kong (Hong Kong employment) is chargeable under s8 above. Taxpayers whose employment is not in fact located in Hong Kong (Non-Hong Kong employment) may still be liable to salaries tax if they render services in Hong Kong. The basic charge to salaries tax is specifically extended to include the income of overseas employees working in Hong Kong during visits exceeding 60 days [S8(1A)]. Hong Kong Employment a) No time-apportionment b) All income included despite part of services rendered outside Hong Kong c) Exceptions: i) rendered ALL services outside Hong Kong i) visited Hong Kong for 60 days or less in a year of assessment concerned d) Relief: i) income excluded for income attributable to services rendered in that territory and foreign tax paid ii) tax credit under Double Tax Arrangement with Mainland China and other tax tr eaty countries According to DIPN10, the IRD accepts that employment is located outside Hong Kong where all the following factors are present: a) the contract of employment was negotiated, and entered into, and is enforceable outside Hong Kong; b) the employer is resident outside Hong Kong; c) the employee’s remuneration is paid to him outside Hong Kong. In appropriate cases, the IRD may need to look further facts. Comparison of Hong Kong employment and non-Hong Kong employment: | |Hong Kong employment |Non-Hong Kong employment | |All services rendered in Hong Kong |Taxable in full |Taxable in full | |Services partly rendered in Hong Kong |Taxable in full |Time apportionment | |All services rendered outside Hong Kong |Exempt |Exempt | |Services rendered in Hong Kong for less than 60 days or less | | | |visits in Hong Kong |Exempt |Exempt | |Services rendered in Hong Kong for more than 60 days visits in | | | |Hong Kong |Taxable in full |Time apportionment | |Services rendered in Hong Kong for 60 days or less but presence in| | | |Hong Kong did not constitute visit to Hong Kong | | | | |Taxable in full |Time apportionment | |Services rendered outside Hong Kong with foreign tax paid |Foreign services income | | | |exempt |Not applicable | If a taxpayer with Hong Kong employment is seconded to work overseas with a new non-Hong Kong employment, clear evidence must be shown such that the old empl oyment has been terminated and that a distinctively new employment has commenced. Format of salaries tax computation – Individual |$ |$ |Section | |Income from principal employment | |A |9 | |Less: Allowable outgoings and expenses |B | |12(1)(a) | | Depreciation allowances | C | D |12(1)(b) | | | |E | | |Add: Rental value (10% on E) |F | |9 | | Less: Rent suffered | G | | | |Net rental value | | H | | | | |I | | |Income from other employment | | J | | | | | K | | |Less: Loss brought forward |L | |12(1)(c) | | Self-education expenses | M | N |12(1)(e) | |NET ASSESSABLE INCOME | | O | | |Less: Concessionary deductions | | | | | Approved charitable donations (limited to 35% of K) | P | |26C | | Elderly residential care expenses | Q | |26D | | Home loan interest R | |26E | | Contributions to recognized retirement scheme | S | T |26G | |Net assessable income after concessionary deductions | | U | | |Less: Personal allowances | | V |Part V | |Net chargeable income | | W | | |Salaries tax payable | | | | |Lower of (a) progressive rate on W or | | | | |(b) standard rate on U | | | | | | | | | Format of salaries tax under joint assessment |Husband |Wife |Joint | | |$ |$ |$ | |Net assessable income |X1 |X2 |X | | |== |== | | |Less: Concessionary deductions | | | | | Approved charitable donations (limited to 35% of X) | |P | | | Elderly residential care expenses | |Q | | | Home loan interest | |R | | | Contributions to recognized retirement scheme | |S |T | |Net assessable income after concessionary deductions | | |U | |Less: Personal allowances (married person’s, etc) | | |V | |Net chargeable income | | |W | |Salaries tax payable by the nominated spouse or | |the spouse who would have been liable to pay salaries tax under separate taxation. | | | | | | |100% of salaries tax will be waived, subject to a ceiling of $8,000 (2008/09). | |75% of salaries tax will be waived, subject to a ceiling of $6,000 (2009/10 2010/11) and $12,000 for 201 1/12. | Case law establishes that income from employment: a) includes income for services rendered or to be rendered; b) excludes voluntary receipts for personal reasons; c) excludes compensation for loss of rights Assessable income includes reward for services rendered, past, present and future. If the employer makes a payment to a third party for which the employer itself was solely and primarily liable, then the benefiting employee is not chargeable to tax on such benefit, unless: a) the benefit can be converted into money; or b) the payment was paid for the education of a child of the employee. c) any amount paid in connection with a holiday journey. Considering whether an income is chargeable to salaries tax: a) whether the payment is derived from an employment or office; b) whether the payment is in recognition of services rendered in the past, present or future. In D19/92, The taxpayer was offered and accepted employment by a Hong Kong company. The company paid him a lump sum at the beginning of his employment as an inducement to join the company. The Board held that this payment was incorporated into his contract of employment with the company. The source of the inducement payment was the employment of the taxpayer with the company. It was not a gift. Compensation for loss of employment Generally speaking, compensation for a loss of employment which does not represent a payment for past, present or future services is not chargeable to salaries tax. This is considered as a sum paid in consideration of the surrender by the employee of his/her rights in respect of the employment. Such payments should be distinguished from the termination gratuities which is usually relate to services previously rendered by the employee and hence taxable. The taxable termination gratuities may be related back for a maximum period of 36 months. A sum specified in the contract of employment may be taxed even though it was described as compensation for termination of employment. In CIR v Yung Tze-kwong, the Court has apportioned 10% of the severance pay as the inducement to enter into employment and 90% of the sum was attributable to restrictive covenants, which was not taxable. In Fuchs, Walter Alfred Heinz v CIR, the Taxpayer was entitled to termination payments according to his 3-year contract of employment. The contract of employment was terminated about two years. Under a termination agreement, the Taxpayer received a compensation made up of: †¢ Sum A – equivalent to his salary under the remaining period of his contract (12 months); †¢ Sum B – two annual salaries; and †¢ Sum C – the average of his three previous annual bonuses IRD levied tax on Sum B and C on the basis that they were paid pursuant to his contract of employment and the Taxpayer was contractually entitled to receive them on premature termination. The Court of Appeal held that Sum B and C were assessable because they were not paid in abrogation of the contract of employment but in accordance with the contract of employment. The Court of Final Appeal upheld the decision. Payment in lieu of notice After the decision of Fuchs case, IRD is now of the view that payment made in lieu of notice is an incentive for joining an employment and the payment is made under the terms of employment contract, the amount is chargeable to salaries tax if it accrues to an employee on or after 1 April 2012. EMPLOYEE SHARE-BASED BENEFIT Share Option Benefit Time of assessment At the time of exercise, assignment or release of share option. Taxable Gain Situations |Assessable Amount | |Exercise of option |Market value at the time of taking up the shares over total consideration | |Option assigned/released |Consideration for assignment/release of option less total consideration | Timing of exercise of share option According to the DIPN 38, a taxpayer i s generally considered to have exercised an option when he has taken whatever steps are necessary to convert the offer contained in the option agreement into a contract to purchase the relevant shares Locality of share option benefits The gain is chargeable to Salaries Tax if it comes within the scope of s 8(1)(a), ie if it can correctly be described as â€Å"income arising in or derived from Hong Kong†. If a person had a Hong Kong employment at the time of grant of the right, the income is also regarded as having been derived from Hong Kong. If a right is granted to an employee on an unconditional basis during a year of assessment in which the person renders all services in respect of his employment outside Hong Kong, any gain subsequently realized, even if realized whilst the person is working in Hong Kong will not be charged to Salaries Tax. No liability to salaries tax arises where a right is granted on an unconditional basis prior to a person rendering any services in Hong Kong, notwithstanding that the right may be exercised after the person commences to render such services. Where a person with a non-Hong Kong employment is granted the right subject to a vesting period during which services are rendered both in and outside Hong Kong, the gain should to some extent be chargeable to Salaries Tax based on the following formula: Days spent rendering services Gain calculated in accordance In Hong Kong during vesting periodX with s 9(1)(d) and s 9(4) Total number of days in vesting period Definition of ‘vesting period’: ‘Vesting period’ normally means the period from the date of grant of the option to the first available date that an employee is entitled to exercise the option. An option will generally be considered to have vested when all conditions for its exercise have been satisfied. E. g. an employee required to work for a certain period of time. Share Award Benefit Shares obtained through share-based remuneration schemes are taxable perquisites forming part of a taxpayer’s employment income. When does the perquisite accrue to the employee? Referring to section 11D(b), this means â€Å"entitled to ownership of the shares†. Generally, two approaches in assessing such awards, viz: ‘Upfront’ and ‘Back End’. Summary of the two broad approaches: | |‘Upfront’ approach |‘Back End’ approach | |Vesting period applies? |No. |Yes. | |Time of assessment |Upfront, ie at the time of the grant. |Back end, ie upon fulfillment of conditions. | |Valuation |Market value at time of grant. |Market value at time of fulfillment of | | | |conditions. | |Discount in valuation? |Yes. The discount is to be determined in the |No | | |light of the facts of each particular case. | | |Distributions |Received during the restriction period: Not |Received during the vesting period: Taxable, | |(eg dividends, bonus shares) |taxable; regarded as investment income since |since employee is entitled to the shares only | | |employee is entitled to the shares at the time|at the end of the vesting period. | | |of award | | Example (Extracted from DIPN 38, eg 11) The taxpayer had a non-Hong Kong employment. On 1 May 2005, he was granted 10,000 shares by his employer subject to a vesting period. Shares would only be vested on condition that he remained an employee of his company on the vesting dates. 5,000 shares vested in him on 1 May 2007 and the remaining 5,000 on 1 May 2008. The number of days in Hong Kong and outside Hong Kong was ascertained as follows: | |(A) |(B) |(C) |% | |Year ended |Days in Hong Kong |Days outside Hong Kong |Total days |(A)/(C) | |31. 3. 006 |275 |90 |365 |75 | |31. 3. 2007 |260 |105 |365 |71 | |31. 3. 2008 |250 |116 |366 |68 | |31. 3. 2009 |255 |110 |365 |70 | The assessor and taxpayer agreed that the â€Å"back end† approach is applicable to assess the vested shares. The share-award benefits are assessed as follows: ) the value of the first 5,000 vested shares is to be included with the taxpayer’s other remuneration in the year of assessment 2007/08 and 250/366 of the value is to be subject to tax, while b) the remaining 5,000 vested shares is to be included in the year of assessment 2008/09 and 255/365 of their values is subject to tax. Holiday journey benefits Starting from 1 April 2003, holiday warrant or allowance to purchase holiday warrant will be subject to salaries tax. Section 9(2A)(c) provides that ‘any amount paid by an employer in connection with a holiday journey’ is taxable. The term â€Å"holiday journey† is defined in section 9(6) as either: a) a journey taken for holiday purposes, or b) where a journey is taken for holiday and other purposes, the part of the journey taken for holiday purposes. The amount to be assessed is based on the actual amount paid by the employer, i. e. the actual costs that an employer pays. DIPN 41 Taxation of Holiday Journey Benefits The CIR issued DIPN 41 Taxation of Holiday Journey Benefits in August 2003 to lay down broad statements on the interpretation and practice to be adopted by the Inland Revenue Department in relation to the above amendments. (a) Business trip (including a holiday incidental to such business trip) will not be taxable. (b) If it could be established that a journey is not for holiday, such as for the relocation of an employee and his family – i) in Hong Kong upon assumption of a new post or ii) out of Hong Kong upon termination of an existing post here, the payment made by the employer will not be taxable. For such trips, any stop over visits to another place en route to or from Hong Kong would be disregarded as a concession. c)If an employer was given a certain mileage for a business trip paid by his employer and he redeemed it for a free ticket to a territory for holiday, the value of the free ticket is not assessable as no payment was made by the employer in connection therewith . Rental refund or Cash allowance It is necessary to decide whether a sum is a rental refund and a cash allowance paid by an employer to his employee. A cash allowance is fully taxable as an income from employment. In CIR v Page (2002), to qualify as a refund of rent, there is no requirement for sufficient control, the production of tenancy agreement and/or rental receipt to the employer. However, the taxpayer must prove that the intention of the employer is to refund the rent paid and not to pay an allowance that can be spent in whatever way the employee wishes. For computation of rental value, it is based on a certain percentage on net assessable income (before self-education expense) depending on the nature of accommodation. (Refer to D91/04 regarding the definition of hostel, boarding house hotel). Allowable outgoings and expenses include all outgoings and expenses (other than domestic, private or capital expenditure), wholly, exclusively and necessarily incurred in the production of the assessable income. There is a distinction between expenses incurred ‘in’ the production of the assessable income and expenses ‘for’ the production of the assessable income. The expression ‘in the production of assessable income’ bore the same meaning as ‘incurred in the performance of the duties of the office or employment’ and without such expenses the employee may not be able to earn the income. CIR v Humphrey (1970) 1HKTC451 – traveling expenses incurred by a taxpayer in getting to his place of employment were not allowed (when traveling to his place of work, the taxpayer was not on duty). It is the taxpayer’s responsibility to attend to the place of work. CIR v Robert P Burns (1980) 1HKTC1181 – legal expenses incurred by a taxpayer in an appeal against disqualification was not allowed as the expenses were incurred in order to prevent the taxpayer from being precluded from earning income, not incurred in the production of the income. In D91/03, a solicitor was denied a deduction claim on professional indemnity insurance. The Board held that the amount was incurred so as to put the taxpayer in a position to earn her income and so as to qualify the taxpayer to perform the duties of her office as a solicitor. In D35/04, the taxpayer was required to repay part of the commission to his employer, being bad debt of his client. The repayment was required because he failed to observe the employer’s credit policy. The Board disallowed the sum as it was not incurred for the performance of duties but for deviation from his duties. Home loan interest deduction 1) mortgage loan to acquire dwelling in Hong Kong 2) interest paid to recognized organization 3) prescribed amount 4) claim for ten years In D5/02, a taxpayer held to be entitled to claim deduction of 50% only of he mortgage loan interest paid in respect of the property held by her and her mother as joint tenant although all mortgage payments were financed by her. In D106/00, it was held that only the portion of interest payment for the second bank l oan used to repay the outstanding principal on the first bank loan is allowable. In D2/01, interest paid for the bank loan for the payment of the premium paid to the Housing Authority is not deductible as the premium was not deferred consideration for the acquisition of the dwelling house. In D108/02, it is considered that ‘owner’ does not include beneficial owner. SALARIES TAX PLANNING Common areas of salaries tax planning are source of employment, using statutory exemption and fringe benefit. Territorial source – Employment If the following three factors are present, IRD will normally accept that employment is located outside Hong Kong: 1. the contract of employment was negotiated and entered into, and is enforceable outside Hong Kong; 2. the employer is resident outside Hong Kong; 3. the employee’s remuneration is paid to him outside Hong Kong. a) ensure foreign employment – only income attributable to Hong Kong services is taxable. Ensure all the above three factors are met. b) render all services outside Hong Kong or performed services during visits not exceeding 60 days in the year of assessment. c) dual employment – one covering Hong Kong duties with HK employer and the other covering overseas services with overseas company. Ensure the nature of the employment duties is clearly differentiated. d) dual capacity as a director and an employee – not taxable if no services rendered in respect of the employment. Benefits-in-kind or Fringe Benefits Arranged to provide the following fringe benefits which are not taxable: 1. discharge of employer’s liability which is not guaranteed by any other person 2. benefits which are not convertible into cash 3. benefits which are not attributable to a particular employee Not convertible into cash The employer should not give an asset to an employee free or at a price below market value. Assets should be lent to the employee for use without transfer of ownership. Utilities of Employee’s Home The contracts should be made between the employer and the utilities suppliers for the supply of facilities to the employee’s home. Domestic Servant/driver The servant or driver should be employed by the employer to serve the employee. Low Interest loan or Interest free loan Such a loan provided by the employer is not taxable provided that no other person provides surety to the loan. The benefit must not be convertible into cash by the employee. Club The employer should become a member and allow its employee to enjoy the club’s facilities. Medical and Dental benefits 1. engage a doctor/dentist by the employer 2. join a group medical/dental insurance scheme Quarters 1. reimbursement of rent 2. provision of place of residence Share option Only gain realized by the exercise of share options is taxable. So do not exercise the right unless you derive very little income from that transaction at that time. Comprehensive Double Taxation Arrangement On 21 August 2006, the Hong Kong Special Administrative Region (â€Å"Hong Kong†) and the Mainland of China (â€Å"Mainland China†) entered into a comprehensive double taxation arrangement known as â€Å"The Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income† (the â€Å"Arrangement†). Salaries Tax Implications Generally speaking, income from employment by a Mainland resident shall be taxable only in Mainland China unless the employment is exercised in Hong Kong. If the employment is exercised in Hong Kong, such remuneration as is derived from Hong Kong may be chargeable to salaries tax in Hong Kong. A Mainland resident in respect of an employment exercised in Hong Kong will not be chargeable to salaries tax in Hong Kong if all the following three conditions are satisfied: 9 the recipient is present in Hong Kong for a period or periods not exceeding in the aggregate 183 days in any 12-month period commencing or ending in the taxable period concerned; 10 the remuneration is paid by, or on behalf of, an employer who is not a Hong Kong resident; c)the remuneration is not borne by a permanent establishment which the employer has in Hong Kong. If a Mainland resident renders employment services in Hong Kong but his remuneration is paid by a Hong Kong employer, he will still be exempt from tax und er the IRO if his visit to Hong Kong in a year of assessment concerned does not exceed a total of 60 days according to the â€Å"preferential treatment†. Section 50 of the IRO provides the basis for the granting of a tax credit in relation to an item of income stipulated in the Comprehensive Arrangement and in respect of which tax has been paid in the Mainland. Example of calculation in the Arrangement is extracted as follows: |$ | |Total Hong Kong assessable income |200,000 | |Including gross income from the Mainland before tax |120,000 | |Tax paid in the Mainland |10,000 | |Tax rate in the Mainland |8. 33% | |Net income after tax from the Mainland |110,000 | | | |The effective tax rate in HK and the tax credit are computed as follows: | | | | |Total HK assessable income |200,000 | |Less: Deductible items | (12,000) | |Net assessable income |188,000 | |Less: Personal allowance |(100,000) | |Net chargeable income |88,000 | | | | |Tax payable |6,340 | | | | |The ef fective tax rate in HK: Tax payable x 100% | | Net assessable income | | | = 6,340 x 100% | | | 188,000 | | | = 3. 7% | | | | | |Net income from the Mainland after tax | | | (grossed up at the effective rate in HK)(Note) | | | | | |$110,000 x 100% |113,836 | |(100% – 3. 37%) | | |Less: Net income from the Mainland after tax |(110,000) | |Tax credit limit of tax paid in the Mainland 3,836 | | | | |Under section 50, the actual tax payable in HK is computed as follows: | | | | |Assessable income (Hong Kong) |80,000 | | Assessable income (the Mainland) | | | after deduction of tax 110,000 | | | Add: tax deducted in the Mainland 10,000 | | |Gross income from the Mainland before tax |120,000 | |Total HK assessable income |200,000 | | Less: amount not allowed as a tax credit (10,000-3,836) | (6,164) | | |193,836 | | Less: Deductible items |(12,000) | | |181,836 | | Less: Personal allowance |(100,000) | |Net chargeable income |81,836 | | | | |Tax thereon |5,538 | |Less : tax credit allowed |(3,836) | |Hong Kong tax payable |1,702 | | | | |Note: | | |Under section 50(5), tax paid in the Mainland which is not allowed as a tax credit can be deducted from the income | |Amount not allowed as a ax credit $10,000 – $3,836 = $6,164 | |Net income from the Mainland after tax $120,000 – $6,164 = $113,836 | | | | | | | | | | | | | Lecture 1: Tutorial Questions 1. Mr Lee supplies you the following information in relation to the year ended 31 March 2012: ) He was recruited five years ago in Singapore by Multinet Ltd, a company incorporated and carried on business in Hong Kong, as the company’s regional manager. He was paid an annual salary of $800,000. During the year he only spent six months in Hong Kong as he was required to travel around Asia to carrying out his duties. By arrangement with his employer, his salary was paid directly into his bank account in Singapore from which he had money remitted periodically to Hong Kong. b) M ultinet Ltd operates a medical insurance scheme for all its employees through an insurance company based in Hong Kong. Under this scheme Multinet, as insurer, arranges with the insurance company to insure each employee against illness and related hospital costs. It pays an annual premium to the insurance company of $6,000 for each employee. Mr Lee paid visits to his own doctors and paid the doctor’s bill first, which was later reimbursed by the insurance company. The insurance company reimbursed him the total cost of $7,500. c) He considered that it would be productive to have a personal laptop computer for use while traveling on business trips. He therefore purchased a computer for $12,000. He used it solely for his employment. d) Before he was employed by Multinet, he was working with an international company incorporated in Singapore. All his services were rendered in Singapore. In March 2005, he was granted an option to subscribe for 100,000 hares at a cost of $2 per share. At the time of the grant, the market price was $5 per share. In January 2012, he exercised the option and the market price was $4 per share. In March 2012, he sold the shares for $6. e) Mrs Lee is a housewife and is living in Hong Kong. f) Multinet paid school fees amounting to $60,000 for the education of his younger son in Hong Kong. Under an arrangement entered between the school and Multinet, Mr Lee was not liable for the payment of the school fees. g) Mr Lee paid residential care expense of $60,000 to the residential care home situated in Kowloon Tong in respect of his father who is aged 64. He also paid $12,000 to his father. ) He has two children, aged 16 and 22. The younger son is the child as described in (f) above and the elder son is receiving full time education in Singapore. He has a part-time job for his daily expenses. i) Mr Lee lives in a flat owned by himself and his wife as joint tenants. During the year they paid mortgage loan interest to the bank of $130,000. Required: a) Explain whether Mr Lee is liable to Hong Kong salaries tax. b) Assuming Mr Lee’s income is liable to Hong Kong tax, comment your tax treatment for items (b) to (i) above; and c) Compute Mr Lee’s salaries tax liability for the year of ass essment 2011/12. Ignore provisional salaries tax. Note to students: distinguish between the HK employment and non-HK employment and apply the three factors to the case) 2. Mr Brown was employed by B Ltd as a sales manager for many years. B Ltd was incorporated and carrying on business in Singapore. Mr Brown used to live and perform duties in Singapore. In order to expand its market in China and South East Asia, he was assigned by B Ltd to work for two years from 1 April 2009 to 31 March 2011 to in charge of the sales activities of the company in that area, including Hong Kong, at an annual salary of $1,095,000. In consideration of his taking up the two years’ assignment, B Ltd would grant him a share option (Option 1) to purchase 100,000 shares in B Ltd at a price of $3 each upon completion of the assignment. On completion of the contract on 31 March 2011, B Ltd granted him the share option and he exercised the option on 30 June 2011. The share price per share of B Ltd was $5 and $8 as at 31 March 2011 and 30 June 2011 respectively. On 1 April 2011, Mr Brown signed another contract with B Ltd for another two years with annual salary of $1,171,200. In consideration of the taking up of a new contract, B Ltd unconditionally granted Mr Brown another option (Option 2) to purchase 150,000 shares in B Ltd at a price of $3. 50 each when the price per share was $5. 50. Mr Brown paid $10,000 for purchasing the option. On 1 October 2011, Mr Brown assigned the share option (Option 2) to his colleague for $330,000 when the price per share was $6. Starting from 1 April 2011, B Ltd rented a flat in Hong Kong at a monthly rent of $35,000 for Mr Brown’s residence and Mr Brown was required to pay monthly nominal rent of $1,500 to B Ltd. In the year of assessment 2011/12, Mr Brown took a 5-day business trip to Thailand to be followed by 5 days’ vacation there. Mr Brown’s wife accompanied him to take the 10-day trip to Thailand. B Ltd paid $50,000 for each of them to a travel company for the entire trip including air ticket, accommodation, meals, transportation expenses, etc. The cost of the air ticket was estimated to be $5,000 each. During the following years of assessment, Mr Brown’s stay in Hong Kong is as follows: Year of assessment No. of days in Hong Kong 2009/1055 2010/11280 011/12200 Required: a) Explain to Mr Brown whether his income is subject to salaries tax for the year of assessment 2009/10. b) Compute the assessable income of Mr Brown for the years of assessment 2010/11 and 2011/12. 3(a)Mr Fong is a financial manager of A Ltd, a company incorporated in Hong Kong, since December 2006. In April 2011, he was posted to Macau to set up the financial system of a subsidiary of A Ltd. His salary is directly deposited in his bank account in Hong Kong. He returns to Hong Kong regularly and stays with his friends, as he does not have a home in Hong Kong. In the year of assessment 2011/12, he spent 58 days in Hong Kong. During the period, he carried some of the work with him from Macau and worked in the office of A Ltd for a total of 50 days. Required: Comment on the salaries tax liability of Mr Fong for the year of assessment 2011/12. 3(b)Mr Kam was having a non-Hong Kong employment before 31 March 2010. On 10 April 2009, he was granted an option (Option A) unconditionally to purchase 80,000 shares of his employer’s holding company at a price of $2. 00 each when the price per share was $3. 50. During the year ended 31 March 2010, he visited Hong Kong for 160 days for performing his employment duties. Starting from 1 April 2010, he was employed by C Ltd, a company incorporated and carrying on business in Hong Kong. He supplied you the following information for the year ended 31 March 2011: (a)Salary: $1,500,000 b) On 1 December 2010, he was granted an option to purchase 120,000 shares in C Ltd at a price of $1. 50 each when the price per share was $4. 25. He exercised the option on 20 March 2011 when the price per share was $5. 50. On 31 March 2011, he received dividend of $12,000 for the shares. c) Starting from 1 April 2010, he leased a flat at a monthly rent of $40,000 and C Ltd refunded monthly rent of $35,000 to him. d) Starting from 1 April 2010, C Ltd leased a motor car for the free use of Mr Kam. C Ltd paid monthly rental of $8,000 to the car leasing company. ) On 20 March 2011, he exercised Option A when the price per share was $3. 30. He sold the shares on 31 March 2011 when the price per share was $4. 80. f) He made cash donations to the Hong Kong Red Cross of $100,000. Mr Kam is married and his spouse is a housewife. They have a son aged 20 and is studying in a university in Singapo re. Required: i) Explain your tax treatment of items (c) and (d) above. ii) Compute Mr Kam’s salaries tax liability for the year of assessment 2010/11. Ignore provisional salaries tax. 4. Mr Pang is a senior management of a company in Hong Kong. Due to the Board of Director’s decision, Mr Pang’s employment was terminated immediately on 29 June 2012. When Mr Pang left the company, he received a total sum of $3,960,000 consisting of the following: a) final month’s salary of $120,000; b) bonus of $100,000; c) payment in lieu of notice of $120,000; d) compensation for leave not taken of $60,000 e) lump sum payment of $1,000,000 agreeing for not participate with the company’s business for two years; f) a further sum of $2,560,000 being final settlement between the company and Mr Pang. According to the employment contract, the company is responsible for the traveling expenses for returning to Mr Pang’s home country. In this regard, the company had incurred cost of air tickets of $80,000 for Mr Pang’s return to his home country with his spouse. Required: Advise the tax treatment of the above items. (Note to students: you have to consider what additional information you may require to determine if the income is taxable or not) 5(a). Mr Chan owns Property A and Ms Lee owns Property B. Mr Chan married Ms Lee on 1 September 2010. Before their marriage, Mr Chan and Ms Lee lived at their own property. After marriage, Ms Lee moved into Mr Chan’s property. Ms Lee’s property was still used by her parents as their residence. Mr Chan and Ms Lee paid the following home loan interest during the year ended 31 March 2011: 1. 4. 2010 – 31. 8. 20101. 9. 2010 – 31. 3. 2011 Mr Chan$60,000$84,000 Ms Lee$65,000$30,000 5(b). Mr and Mrs Ko lived together in their jointly owned residence up to 31 December 2010. On 1 January 2011, they separated and Mr Ko moved out to a rental accommodation. Under the Deed of Separation, Mr Ko would assign the property to Mrs Ko at the date of divorce. The date of divorce was 1 July 2011 and the legal ownership of the property was assigned to Mrs Ko on that day. They paid the following home loan interest during the year ended 31 March 2011: 1. 4. 2010 – 31. 12. 2010$90,000 1. 1. 2011 – 31. 3. 2011$30,000 Mrs Ko was responsible for the payment of loan interest during the period from 1. 1. 2011 – 31. 3. 2011. 5(c). On 1 March 2010, Mr Ma purchased Property D at cost of $4,000,000 with downpayment of $1,200,000 and the balance was paid with the finance of mortgage loan obtained from a local bank and secured by Property D. The downpayment was financed by a bank’s overdraft, which was secured by his personal guarantee. He used Property D as his residence starting from 1 April 2010. During the year ended 31 March 2011, he paid the following interest to the bank: Bank overdraft interest: $60,000 Mortgage loan interest:$56,000 Required: Compute the amount of home loan interest that each of the above person was entitled to claim for the year of assessment 2010/11. You are required to state the principles/reasons to support your calculation. [Note to students: refers to DIPN No. 35(Revised)] 6. Mr Chung is going to renew a contract of employment with his employer. The company’s director has provided him with the following proposed changes: | |Current benefits |Proposed benefits | |(a) |13 months salary per annum |12 months salary per annum plus discretionary bonus, | | | |depending on the company’s profitability and the | | | |employee’s erformance | |(b) |Company car (the car is owned by the company) |A monthly sum of $12,000 will be paid to him for his | | | |transportation | |(c) |Meal coupons from canteen |Cancelled, business meals to be reimbursed upon | | | |approval | |(d) |Medical insurance (the company participated with a |Cancelled, medical bills to be reimbursed upon | | |scheme for the employees) |approval, up to a maximum of 80% of the bill amount | |(e) |Monthly housing allowance of $20,000 |Cancelled, ren tal reimbursement of $15,000 upon | | | |production of rental receipts and tenancy agreement | |(f) | – |Share option for employees to acquire shares in the | | | |employer’s listed holding company | |(g) |Children’s education cash allowance, paid by the |Cancelled, a one-off lump sum compensation payment to| | |company directly to the school |be made at the commencement of the new contract | Required: Advise Mr Chung on the Hong Kong salaries tax implications arising from the proposed changes to the respective benefit items. (Note to students: comments on whether such changes will affect the tax liability) How to cite Hk Tax, Essay examples

King Rat Review Essay Example

King Rat Review Paper Essay on King Rat Danae book me inspired by some associations: historical, and related read and heard in the childhood stories. As I strained my memory, but what were the tales of the author, I can not remember But a good friend of mine and also a young mother, which today was my guest, suggested that she reads my wee -. The wonderful Adventures of Nils . Maybe this is it. The Brothers Grimm also seems to be written on a fairy tale in which the characters appear as a rat. And with the history of my case much better. And there is a lot of literature. So, in the Middle Ages was the legend of the Pied Piper with a magic flute. In a German city, which are mad rats in large quantities, he has announced a stranger in an outlandish motley garb, promising to rid the inhabitants of the scourge. Before residents glimmer of faint light of last resort, and they promised to pay even much more than the required price. We will write a custom essay sample on King Rat Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on King Rat Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on King Rat Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The mysterious stranger struck up a pipe and raised it sounds rat crawled out of their holes, and went for a musician to the Weser River, where he drowned . The city was saved. But greedy townspeople refused to pay the stranger not only increased, but also the agreed amount. You will regret bitterly that broke the promise, said the piper and was gone, disappeared, vanished into thin air And soon spread over the city again flute melody.. Mesmerized by the fatal melody, many children ran out of the house, and went for Pied Piper toward the mountain, located near Hamelin, which disappeared forever, as if they had never existed But in all these troubles, associated with the invasion of rats, there are wine people who lived in those times. The Plague, famine and pestilence, the witch hunt and other horrors reigned in those dark times, and this is the twelfth and thirteenth century. Rats thousands flooded into the city in the hope of food. witch hunt instigated by the church led to the complete idiocy. It has been proven that cats the offspring of the devil, its It was believed that cats reincarnated witch. Killing cats, the church as it fought against the demons. Demonology is gaining momentum. Normal hunting cat and mouse game churchmen interpreted as playing the devil with a human soul, and trivial cat catching mice both capture human souls the devil This resulted almost extermination of these animals.. And who will catch and exterminate the population of mice and rats? Hunger Im probably a little carried away, but oh well. China Mevil probably loves ancient legends, legends and fairy tales, in other matters, like all normal people. The beginning of the book like a good detective, Saul wakes up in the morning by loud noise is a loud knock on the door, it opens and breaks the police. In general, homicide, or suicide, is unknown, but it is taken to the site. And then to his unexpected and uninvited guests. It was the Rat King himself. A real, live, you can even touch the hand. After substantial discussions they leave these inhospitable walls and adventures begin. After a quarter of the plot of the book and the ending does not pose big surprises, but it is not particularly annoying. A bit formulaic how YY in a short time ceases not an ordinary man but a man-rats. At the same time he is the same human life from unusual was that he ate anything, without any problems with digestion. Of course, read at dinner the following detailed description of the dishes of leftovers extracted from garbage cans, I will not say its nice to Prototype Piper Dudoshnik name, only people it Pete. He is on the technical characteristics and simple Terminator Ian Anderson in the aggregate, not less. With the help of his pipes he plays a certain melody and takes full control over the object. Therefore, it can only win Saul, who is also a bit of a mutant. It tunes do not work. All animals have their king, and they are all subject to DudoshnikuNo will not reveal the plot. Now about pleasant. There are Natasha, DJ, her hobbies compose melodies. Shes a little strange girl, obsessed with the music. In my opinion the best of her characteristics, her characters give these lines:  «The sound filled the room Bass was trapped.. He had almost reached a crescendo in the flurry of strings was growing expectation that is about to reach its peak, the climax Suddenly the sample broke and the cycle started over again. The bass line is writhing in convulsions. She yearned to life with a new surge of excitement, longed for liberation that never comes. Natasha shook her head slowly. It was a breakbeat rhythm tormented music. She loved him. Hands ran again. Mad rhythm paired with bass and cymbals, whirring like a cicada. Sounds flew in circles. Natasha moved to the beat of his shoulders. With eyes wide open, she auditioned for what happened, the heady sounds she found what she wanted: an excerpt from the solo trumpet Linton Kwesi Johnson, howling Tony Rebel, battle-cry Al Green. She gathered all of this in your own melody. And the melody gradually turns into a buzzing bass and drum rhythms. It was a jungle. The child house, child reggeya, child dance floor, the apotheosis of the black music, drum and Beisova soundtrack London public housing and dirty walls, black and white youth, Armenian girls. The music was tight. Hip hop rhythm, mixed on the funk. Strikes were fast, too fast; to dance in a rhythm, you have to be flexible as a wire. This bass line obeyed his feet, she gave it a jungle your soul. Over the bass line going all the other jungle theme. Aliens and harmony voices, both surfers gliding on the waves of bass. Fleeting and tantalizing echo of a moment soared over the rhythm, ran through it, barely touching, and disappeared again. Natasha nodded in satisfaction. She could feel the bass. She knew it from the inside. But instead of the top topics she wanted to find something else, perfect and beautiful, the leitmotif, which would organically intertwined in the drum rhythm. Natasha was familiar with the owners of the clubs, and they twisted her music. Everyone liked her tracks, her respected and often invited to play. But she felt a vague dissatisfaction with everything recorded, even when these feelings are blunted sense of pride. Finished the track instead of the liberation brought anxiety. Natasha was taken to dig in the collections of friends, frantically to touch the plate; but she was dragging something from others or myself messing with keys nothing will ever touch it as bass. Bass never escaped: one movement of the hand, and he pulled out of the speakers, perfect and flawless Now the topic has sought to climax..  «Gwan, he urged the sampled voice, Gwangyal ». Natasha interrupted rhythm, cutting and filtering it to a minimum. She separated the flesh from the bones melodies and samples are now echoed in the hollow chest, in the womb of rhythm.  «Come now we rollin this way, rude boy  » She pulled the sounds one by one, until only the bass remained. He started the topic, and he completed it. There was a silence.  » I must say that this is my favorite character. And scenes, scenes with her participation just good. For example the dating scene Dudoshnika and Natasha. She did not let him out the door first. Then he used his powers and flute standing under her window:  «It is easy and quick flute slid over the drums, bass teased, barely touching, and then rushed on, suddenly turning into a quivering string staccato. She flirted with the drums, wailing siren, then bass, haltingly Morse code. Natasha was if not shocked, then struck. She closed her eyes. Flute flew up and fell again, slipping enveloping living flesh dry rhythm skeleton so artfully as never succeeded very Natasha. In this pure and reverent music uncontrollably and nervously lapped life, she enlivened bass. the dance of life with death. Promise. Natasha rocked. She wanted to hear it again and again, like a flute that nourish their music. On her lips she played a sardonic grin. She was ready to admit defeat  » And she opened the door I can not say that this book made a strong impression on me, but since its debut novel Chine Mevill and the felt the potential of the author, he came to me in the top list. Legendary piper still inspires fear, terror and admiration of his magical music. And the style of the authors unusual, he obtained great description, for example, the above and it will be even prluchshe! According to the press and the reviews of his next book Perdido Street Station and Scar is simply excellent. But it is better to read the times than to hear a hundred times . I read them necessary.

Housing and Trust Fund Article essays

Housing and Trust Fund Article essays On July 10, 2002, the state and local housing trust funds in the House Financial Services Committee approved a dollar for dollar matching grant program, part of the larger H.R. 3995 Bill. The H.R. 3995 bill, also known as the Housing Affordability for America Act of 2002 was introduced by housing subcommittee chair Marge Roukema (NJ), and was aimed at reauthorizing a number of housing programs. These include the HOPE VI severely distressed public housing program, the Housing Opportunities for Persons with AIDS (HOPWA) program, and the McKinney Act's homeless housing Bill H.R. 3995 was only approved after a great deal of debate and controversy that surrounded the passage of a housing trust fund program on a national basis. This controversy began less than a month earlier when the House Financial Services Committee approved an amendment to the bill by Representative Bernie Sanders (VT). This amendment replaced an original provision that, within the HOME program, created a "new rental housing production/preservation component within the HOME program." In the end, when the new markup of Bill H.R. 3995 was later introduced, neither the original provision nor Sanders housing trust appeared. Instead, the matching grant program was approved. In conclusion, we see that political maneuvering can often create significant changes in governmentally regulated trust funds. This is significant, as approximately 500 million dollars every year are spent by 37 state trust funds and 280 local trust funds. The matching grant program, as introduced, had number of requirements, including certification ...

Neodymium Facts - Nd or Element 60

Neodymium Facts - Nd or Element 60 NeodymiumBasic Facts Atomic Number: 60 Symbol: Nd Atomic Weight: 144.24 Element Classification: Rare Earth Element (Lanthanide Series) Discoverer: C.F. Ayer von Weisbach Discovery Date: 1925 (Austria) Name Origin: Greek: neos and didymos (new twin) Neodymium Physical Data Density (g/cc): 7.007 Melting Point (K): 1294 Boiling Point (K): 3341 Appearance: silvery-white, rare earth metal that oxidizes readily in air Atomic Radius (pm): 182 Atomic Volume (cc/mol): 20.6 Covalent Radius (pm): 184 Ionic Radius: 99.5 (3e) Specific Heat (20Â °C J/g mol): 0.205 Fusion Heat (kJ/mol): 7.1 Evaporation Heat (kJ/mol): 289 Pauling Negativity Number: 1.14 First Ionizing Energy (kJ/mol): 531.5 Oxidation States: 3 Electronic Configuration: [Xe] 4f4 6s2 Lattice Structure: hexagonal Lattice Constant (Ã…): 3.660 Lattice C/A Ratio: 1.614 References: Los Alamos National Laboratory (2001), Crescent Chemical Company (2001) Return to the Periodic Table

Describe a character in fiction, a historical figure, or a creative Essay - 1

Describe a character in fiction, a historical figure, or a creative work (as in art, music, science, etc.) that has had an influence on you, and explain that influence - Essay Example Lincoln learned through his experiences while working on a farm, splitting rails for fences and store-keeping at Illinois. He partook as a captain in the Black Hawk war which was fought between the Indian tribes and native white settlers during their westward expansion. His political career began with his appointment to the Illinois state legislature and later gaining an admission to the Illinois bar. This was soon followed by his marriage to Mary Todd and his subsequent election to the U.S. House of Representatives. They had four boys but tragedy struck and three of their children succumbed to illnesses and one son worked as an attorney and served as the President of Pullman Company. Despite many success as an attorney and several personal sorrows, Lincoln rose again with sheer determination to be nominated as the President of the Republican party in 1860 and went on to become President in the year 1861. His strong belief in equality among the citizens and the need for a successful democratic union assured him the presidency. This was soon followed by the civil war that attacked the Constitution of the United States. The northern and southern regions of the country were divided on the issue of slavery and as a result many southern states which supported slavery pulled out from the Union and formed a separate Confederate of States. However, President Lincoln assured the people that his primary responsibility was to preserve, protect and defend the Constitution of the United States and that this would be the war’s primary motive. He undertook every possible measure at war time to preserve the Union and the victories gained in the battles provided the impetus for issuing the emancipation proclamation through which Lincoln freed all the slaves who sustained the war of the confederate. At the end of the war, Lincoln delivered his famous Gettysburg address wherein he upheld that the war paved the way for a new birth of freedom

3010 Essay Example | Topics and Well Written Essays - 750 words

3010 - Essay Example tiple learning styles, (4) information is presented via multiple channels, (5) grounded in personal reality, (6) conveys a clear goal, (7) earn and build on respect, and (8) create a friendly learning environment. Competent faculties are required to facilitate this to ensure efficient professional development of employees. Having professionals working in a business facilitates ease in the working environment and assurance of quality performance which is primarily the goal of every institution (Ulrich and Brockbank, p.243). 2. The legal context of employment decisions. It has been said by Bohlander and Snell (p.96) that when the HR management and all its functions are acted in compliance with the law organization and companies become more unbiased and more effective workplace. Awareness to the provisions of the law is therefore valuable in HR management especially in choosing the manpower for the organization. This way, occurrence of costly and time-consuming litigations can be prevented. 3. Building an HR Strategy. HR managers are expected to act in two manners when it comes to making decisions for the company. First is that they are fairly familiar with the business to be capable of directing the business strategy to be taken. And they play reactive role to initiate critical thinking among the members of the organization to come up with proficient strategy for the problem at hand. This criterion is necessary for HR managers to perfect to be able to help the members of the organization in arduous decision making and strategic planning (Ulrich and Brockbank, p.224). 4. HR Organization. Like in any other group of management of business, creating a clear organization is essential. This precludes confusion of authority, responsibilities and roles of each member. Selection of HR organization is base on the business organization type (Ulrich and Brockbank, p.179) and only after its fulfillment will the real value of HR management be achieved. 5. HR Competencies that