This group assessment broadly covers the contents of weeks 1-9, and specifically focuses on the overall calculation of tax impacts for a trust (including derivation of income and incurrence of expenses, and application of the net trust income to the beneficiaries, and the resultant impact on tax liability to the beneficiaries.) It is designed to simulate a client-advisor real-life scenario, where students are required to apply teamwork, interpretation of tax law, taxation rulings, and case law, critical analysis and numeracy skills in order to provide supporting evidence for advice to either a tax partner or client. The basis of advice is documented through a 3 column preliminary research report, which will support future communications as required. Part 1 is the basis for determining the trust’s net income 

Part 2 

You will then calculate the trust net income and advise the impact of the distribution to the beneficiaries. You will need to calculate the tax liability of the nominated beneficiaries. Case study: Joe’s Mobile Gourmet Pizza & Pasta (JMGPP)