Essay TAXA3003 – Taxation of Business Structures – Law Assignment Help

Assignment Task

The Personal Service Income (PSI) was introduced in 2000 and have been part of the tax landscape for 21 years over the years there has been many cases that have tested the interruption of the legislation in this area. Recently the ATO issued a draft ruling TR 2021/D2 looking to update the ATO’s views on this area of law to take into account some of these cases that have been determined over this long period of time.

You are required in essay format to review this ruling and explain why it has been necessary to issue a new ruling on the matter when TR 2001/7 and TR 2001/8 are in force currently. You should consider some of the reasoning behind the new ruling by reviewing some of the recent cases within the PSI regime which may assist you in your research. It is also required that you express you opinion on the fairness of the Commissioner being able to use the Part IVA powers after a taxpayer has successfully met all the conditions for their income not to be treated as PSI, as many professional feel that this is unfair.

This assignment is designed to test your critical thinking skills, your analysis of the TR 2021/D2 and research skills. A rubric is attached to this assignment that sets out the criteria on which you are being assessed. You are advised to read this carefully.
It is very important you carefully proof-read your work. You will be penalised for poor written expression.
You will be required to submit the assignment online through the Turnitin link on Blackboard. If you have any issues in relation to submitting through Turnitin before the due date ensure you email the lecturer your assignment before the due date to ensure your submission is recorded. Marks will be deducted for late submission.
Any request for an extension must be completed as per outlined in the unit outline.
All the documentation listed in the form must be provided and your request must be made according to the conditions outlined.