FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose you reside in Fiji. You have a bank account with ANZ Suva branch. ANZ is a business name for the legal person Australia and

Suppose you reside in Fiji. You have a bank account with ANZ Suva branch. ANZ is a business name for the legal person Australia and New Zealand Banking Group Ltd. This company is incorporated in Australia, specifically the State of Victoria. Your account with ANZ Suva is overdrawn and you make regular interest payments to the bank. On each of the payments should you withhold 10% of the payment (per s.113) and remit this to FRCS (per s.117)? Explain your answer and include reference to any relevant provision

Step by Step Solution

★★★★★

3.44 Rating (147 Votes )

There are 3 Steps involved in it

Step: 1

Answer A legal person includes a group of people recognized by law to act as one individual If you a... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law for Business

Law for Business

Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards

13th edition

1259722325, 978-1259722325

More Books

Students also viewed these Banking questions

Question

★★★★★
Suppose you put $5,000 into a bank account with an annual interest rate of 4%. What will be the account balance at the end of 8 years if the interest rate is compounded annually? a). $6,584 b)....

Answered: 1 week ago

Question

★★★★★
You deposited $100,000 into a bank account with 125 APR and left it You now have $138,12454 How many years have you left it in the bank for (to the nearest whole year)

Answered: 1 week ago

Question

★★★★★
Reliable Janitorial Service, maintained a bank account with AmSouth Bank. Rosa Pennington was employed by Reliable as a bookkeeper/office manager. She deposited checks made payable to Reliable but...

Answered: 1 week ago

Question

★★★★★
1) Write a generic function to integrate y(x)dx with the following format function I integrator (x, y, method) where x is a vector and y is a matrix whose columns y(:,j) are vectors of the same...

Answered: 1 week ago

Question

★★★★★
Under what capital mobility conditions is fiscal policy totally ineffective in influencing income? Explain why this result occurs.

Answered: 1 week ago

Question

★★★★★
DDKC has decided to change its replenishment policy. Instead of producing 72 or 120 kites each order, DDKC has reduced its MPS order quantity to 48 kites. (a) Develop an MPS using 48 kites as the...

Answered: 1 week ago

Question

★★★★★
=+3. For the following experiment, identify the experimental units, the treatments, the response, and the random assignment. A non-profit consumer protection department compared recipes for cakes....

Answered: 1 week ago

Question

★★★★★
The county collector of Sun coast County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated...

Answered: 1 week ago

Question

★★★★★
Determine the tax liability for tax year 2021 in each of the following instances. In each case, assume the taxpayer can take only the standard deduction Use the appropriate Tox. Tables and Tax Rate...

Answered: 1 week ago

Question

★★★★★
The COVID-19 pandemic affected companies in the food industry in unique ways, particularly during 2020. Ruth's Hospitality Group (Ticker: RUTH) develops and operates fine dining restaurants under the...

Answered: 1 week ago

Question

★★★★★
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $32 per share. What is the correct entry to record the stock issuance? a. Debit to Cash, $32,000; Credit to...

Answered: 1 week ago

Question

★★★★★
Employees at a large manufacturer are surprised to find that cameras have been installed throughout the plant and all email communications are being monitored. Many are concerned about privacy and...

Answered: 1 week ago

Question

★★★★★
Compute Wynn Memorial Nursing Home's days in accounts receivable. Compute Wynn Memorial Nursing Home's average payment period. Balance Sheet for Wynn Memorial Nursing Home Wynn Memorial Nursing Home...

Answered: 1 week ago

Question

★★★★★
10. Three polarizing disks have planes that are parallel and centered on a common axis. The direction of the transmission axis (dashed line) in each case is shown relative to the common vertical...

Answered: 1 week ago

Question

★★★★★
Read the following passage: "Mary had been asking her neighbor to repair the fence on his goat pen all summer, but he'd only laughed at her and insisted the animals could not get out. So she was...

Answered: 1 week ago

Question

★★★★★
A machine costing $209,000 with a four-year life and an estimated $17,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce...

Answered: 1 week ago

Question

★★★★★
Question 1 1 ( 1 point ) One way to prevent DoS / DDoS attacks is using modified TCP connection handling by cryptographically encoding critical information in a _ _ _ _ _ . Question 1 1 options: DNS...

Answered: 1 week ago

Question

★★★★★
Identify the source of funds within Micro Credit? How does this differ from traditional sources of financing? What internal and external governance mechanisms are in place in Micro Credit?

Answered: 1 week ago

Question

★★★★★
Pirtle bought a historic building with a mortgage and insured it with Rockford Mutual Insurance Co. (RMIC). The building was damaged by an accidental fire, and Pirtle made a claim on his insurance....

Answered: 1 week ago

Question

★★★★★
Seaboard Lumber contracted with the U.S. Forest Service to cut, remove, and pay for timber on the Forest Services land, known as the What lot, in two and a half years. Between the time the contract...

Answered: 1 week ago

Question

★★★★★
Joseph Bitter and two brothers, Joseph Smith and Steve Smith, became good friends. As a result of their friendship, they decided to go into the tavern business together. The parties bought an...

Answered: 1 week ago

Question

★★★★★
Suppose you press your physics book against a wall hard enough to keep it from moving. Does the friction force on the book point (a) Into the wall, (b) Out of the wall, (c) Up, (d) Down, or (e) Is...

Answered: 1 week ago

Question

★★★★★
A car is parked on a steep hill. Identify the forces on the car?

Answered: 1 week ago

Question

★★★★★
A car starts from rest on a curve with a radius of 120 m and accelerates tangentially at 1.0 m/s 2 . Through what angle will the car have traveled when the magnitude of its total acceleration is 2.0...

Answered: 1 week ago

Previous Question Next Question