Autobiography Of My Childhood - 1423 Words

From an early age I loved to read. At just two years old I begged my mother to enroll me into school. I watched as my older sister meticulously picked out her school outfit each night in preparation for the next school day. At such a young age, I somehow knew that this thing called â€Å"school† was going to be something spectacular. My home was chaotic and reading became an escape and helped distract me from my unpleasant family dynamic. Beginning when I was 5 years old, I read novels, magazines, and newspapers. Adults often commented how odd it was to see a child under the age of 10 year’s old who enjoyed Time magazine, People and the daily newspaper. Reading the newspaper was where I first became familiar with comic strips. When my father†¦show more content†¦I did not know at the time that Superman was from a comic book. I enjoyed the excitement and fantasy the story line provided. One day while I was watching television at my aunt’s house, my older cousin Pasha walked in on my weekly routine of watching Superman on ABC. As usual I was sitting way too close to the television set and had just been scolded by my mother that I was going to go blind unless I sat back. Clearly annoyed I prayed there would be no more interruptions. I made sure not to make eye contact hoping to be left alone. During a commercial break, I pretended to fidget with my denim jean overall clasp just so Pasha wouldn’t talk to me. Next thing I knew Pasha very loudly exclaimed, â€Å"Are you really watching the fake version of Superman?† I proudly responded â€Å"I am watching Lois Clark: The New Adventures of Superman!† I thought for sure he would think I was so cool, but Pasha often times looked down on my music, clothing, and television choices. This was not a uncommon reaction from him. Pasha stood there with a look of disapproval and disappointment that I was used to and very loudly stated, â€Å"This show is not worthy of being ca lled Superman. It’s not the real Superman! † Pasha then gave me my first comic book lesson. This is where I learned about the classic comic book genre and how Lois Clark: The Adventures of Superman was based on the original DC Comic book Superman. I appreciated Pasha’s long talks about the classics. I learned toShow MoreRelatedAutobiography Of My Childhood861 Words   |  4 PagesOverland Park, Kansas I was born. I weighed 8 pounds 3 ounces and I was 20  ½ inches. The first people that came was my Grandma and Grandpa Bentley and my Uncle Ryan. Also my Grandpa and Grandma McNeely came. Everyone that came to visit me said I was really cute. At the Prince of Peace Catholic Church on May 22, 2005 I was baptized. My godparents are my Uncle Erik and Aunt Sandra. In 2008 my family and I moved to the house we currently live in now. When we moved into this house we actually got the paintRead MoreAutobiography Of My Childhood1346 Words   |  6 Pages I am 16 years old. My dog is a mix of Husky and Saint Bernard. My favorite flavor of cake is chocolate. I manage the wrestling team, and have since 6th grade. I own a Toyota T100. I have a 2 year old niece. I like roses. I want to go to college for business so I can own my own bakery. I have two brothers. My house looks like a log cabin on the outside, but it’s just a regular house on the inside. Though mint chocolate chip is my favorite flavor of ice cream, I love changing it up and getting differentRead MoreAutobiography Of My Childhood1140 Words   |  5 Pagescame to Licking Valley in the middle of kindergarten. I am the oldest out of three children and son of Ronald and Brandy Schneider. My father is a Highway State Patrol man. By the time a was 5 my parents separated. I haven t seen my biological mother since I was 12. My mother wasn’t the best parent you could have asked for, she had a problem drinking. Even though my parents separated I still have people who lo ve me and the best step mom you could ask for. I went to kindergarten when I was 6Read MoreAutobiography Of My Childhood1111 Words   |  5 Pagesfew inches. But one day, just for fun, my dad stood me up across the room from my mom. Walk to Mama,† he told me. Despite all expectations, I did. I got up and walked to Mama. I didn t even stumble. It wasn t that I couldn t walk, I just hadn t needed to. My mom carried me everywhere. It was a sign, albeit missed, of what was to come. I had also never spoken, not even baby babble. Many of my parents friends took this as proof that I was autistic. My parents, however, refused to believe themRead MoreAutobiography Of My Childhood1788 Words   |  8 Pagesthe personality of my youth, the proto-me, that would someday mold the adult that is conveying this cautionary tale. I was born in the North Eastern United States during the latter half of the 1970’s. The product of loving, if unadventurous parents. My earliest memory is of a kitchen sink; I recall, if I think about it hard enough, that my mother bathed me there as an infant. It may seem improbable to claim such a thing, but nevertheless, it is a memory. The surroundings of my home were a placeRead MoreAutobiography Sample610 Words   |  3 Pagesï » ¿Does the task of memoir writing puzzle you? It’s alright. This autobiography example for students is here to show you that memoir writing can be easy and even exciting. All you need to do is to scroll this page down and enjoy this amazing sample and the related, practical hints. A Lazy Student Autobiography Example An autobiography is a story of your own life. Even if you think you don’t have much to include in your memoir, you can still make it quite interesting. Bill Gates said: â€Å"I always chooseRead MorePersonal Commentary On The Lives Of People Different From Ourselves1454 Words   |  6 Pagesnot mean I can not understand them. Autobiographies allow for us to begin to understand a story and a perspective that is different from our own. In Ricardo Rodriguez’s, â€Å"Achievement of Desire† he uses his own personal narrative to explain the effects that family had on his life. I will never have those same experiences, but by reading his narrative I can begin to understand the way his family influenced him. I have had always had a very close relationship with my parents so it was very jarring whenRead MoreThe Age Of Enlightenment By Jean Jacques Rousseau Essay1324 Words   |  6 PagesIn Jean-Jacques Rousseau’s autobiography, Confessions, he presents a dramatic tell all of his life story. During the eighteenth century, the period, known as the Enlightenment, swept across Europe. Rousseau found himself in the middle of all of it. The Age of Enlightenment was a time when scholars took to science to explain human nature and the world around them. His autobiography reflects how instead of following this trend Rousseau established a kind of counterculture to the Enlightenment. He didn’tRead More Chinese Cinderella by Adeline Yen Mah1433 Words   |  6 PagesAs the world continues to evolve, there are various social issues that exist. Childhood neglect is problematic in society, especially in China. In Chinese Cinderella, Adeline Yen Mah exposes the severity of emotional abuse and neglect of children through her personal experiences. Literature addresses this topic through the interactions of the characters and the plot of the novel. She conveys her autobiography through antagonistic characterization and her writing style of point of view and tone. LiteraryRead MoreColored People, by Henry Louis Gates Jr.1745 Words   |  7 Pagesfocuses primarily on African-American issues, both from the past and the present, is undoubtedly Henry Louis Gates, Jr. Born in 1950 and raised in the small, middle-class, colored community of Piedmont, West Virginia, Gatess acclaimed 1995 autobiography, Colored People, brings readers to a place and time in America when both the racial boundaries and the definition of progress were changing weekly. Colored People, however, is not about race specifically. Rather, it is a story which chronicles

Taxation Responsive Regulation

Question: Discuss about the Taxation for Responsive Regulation. Answer: 1. Issue According to the case study it is observed that mountaineer named Hillary is famous for her achievements, and thus, a news paper Daily terror offered her a huge payment of $10,000 her real story, how was her life style, how she achieved such a glory and what are the obstacles she had to face during the process of her mountaineering. She accepted the offer and wrote her life story herself without taking help from any ghost writer as it was one of the terms and conditions from the Daily Terror. She assigned the entire right, title along with the copyright for $ 10,000 to Daily Terror (Prince, 2013). Besides this she sold her story's manuscript to the Mitchell Library for $5,000, apart from this, she sold her photographs of mountain climbing for $2,000. The issue is whether all these three payments received by she are considered as income from personal exertion or not and in the case of she wrote her story for her satisfaction and then decide to sell it then what will be the tax consequ ences. Rule According to the Australian Taxation Act, income tax is one of the significant tax, which levies to the residents of the country according to their annual income. The application of income tax can differ by the nature of the income. As per the Income tax Act 1936 along with its amendment of 1997 personal exertion income include the income from salaries and wages, bonuses and commissions, fees, superannuation allowance, pension, retiring gratuities and retiring allowance (Woellner et al., 2016). Application The application of the rule determines the income generated from the activities must be under the taxation law. Here in this particular case, it is observed that Hillary is not a full-time writer and writing was not her original profession. She wrote the story as the Daily Terror Newspaper pleads to her to write her story for them. Thus the income cannot be considered as income tax. The manuscript and her photographs are falls under capital gain tax (Yu, 2008). And in first case, her income from Daily Terror will be considered as ordinary income. Conclusion The income from Daily Terror and manuscript along with photographs all would be considered as capital gain income. In the case of she wrote her story for her satisfaction. As per the income tax act 1997, and section 26 AB,in the first case, of the case study will be assessable income. And rest of income may be considered as capital gain tax under section 1108-410. 2. Issue In this case, the client is a mother who had lent her son an amount of $40,000 to help him with a short term housing loan. A verbal agreement was made between the mother and the son where it was agreed that the son would pay his mother an amount of $50,000 after five years. It should be noted that while giving the money there was no written agreement between the two parties and the son was also not asked to pay any security against the amount of money being borrowed by him. After two years the son returned the full amount of money to his mother along with an interest of 5 percent per annum on the amount of money borrowed by him. The whole amount of money was given to the client in a single check. The mother had not asked for any interest but still the son paid it. The question that comes in the scenario is the effect that the extra amount given by the son will have on the income of the client. Rule As per the Australian Taxation Law, assessable income of an individual is defined as the amount of money earned by that person, which can be taxed when the money earned by the individual is more than the tax-free threshold granted by the Australian Constitution (Mason, 2010). Assessable income of a person consists of salary, wages received by a person for the work done by him or her; dividends and incomes earned as a part of investments made, etc. (Parsons, 2011). Application In this particular case, the loan given by the mother to her son cannot be considered as an investment as she did not want any interest on that. Therefore it is not an ordinary income of the client and not assessable. Moreover, the amount of interest paid by the sum is equal to 5 percent of $40,000 for two years which equivalates to a sum of $4,000. Now this amount of money is less than the threshold of assessable income as indicated by the Australian Taxation Office (Woellner, 2013). Therefore considering these two conditions the amount received by the mother will not be a part of her assessable income. Conclusion The extra amount of money given by the son to his mother is not an ordinary income of the client and also does not cross the threshold of assessable income. This is the reason why the sum of money will not have any effect on the assessable income of the client under section 10-1. 3. a) According to the case study, it is observed that the accounting professional Scott had purchased a vacant block of land in Brisbane in October 1980. At the time of building the house, the value of the land stands at $90,000 as well as the construction cost is $60,000. After the completion of the house, he rented the property and as per the consideration of the current taxation, the Scott sold the property for $800,000 at auction. As Scott holds the profession of an accountant, he is seemed to be not involved in the development of the property (Robertson, 2008). Thus the income generated is seemed to be in the form of the ordinary income as per the law of taxation of ATO 1936 which must be considered as the capital gain and the deduction of tax should not take place in the form of capital gain tax. According to Australian Taxation Law, income generated from the sale of the assets is considered as the capital gain under section 408. The person or the organization has to pay tax on the gains derived from the sale of the asset. The property would be considered as long term capital as it is purchased before three years. The capital gain tax was introduced in the year 1985, and thus transactions before 1980 should not apply to capital gain tax (Barker, 2005). In the given case study, Scott purchased vacant land as on October 1980, and the land value was $90,000, and construction cost was $60,000. The total value of the property was $150,000. The property after building houses was given to rent and income generated from rent would be considered as ordinary income. The property was sold at auction for an amount of $80,000s. Therefore, net earnings of Scott were $650,000, and it would be considered as assessable income. The capital gain tax would be calculated on $650,000 as per the Au stralian Taxation Law (Watson, Gleeson and Higgins, 2013). Total value of the property = (Value of the land $90,000+ construction cost $60,000) = $150,000. The property sold for $ 800,000 Thus, Total Capital gain = ($ 800,000-$150,000) = $650,000 and it is assessable income. b) In the given case study, Scott purchased a vacant land as on October 1st, 1980. In the year 1986, the value of the land was $90,000 and building cost was $60,000. The house was sold by Scott and capital gain tax was applicable on the sold amount. The capital gain is the amount of money earned by an individual from the selling of an asset. Capital gain tax is the tax charged on the income generated from the sale of the assets. Capital assets include land, building, machinery, patents, trademarks, property, etc. In the given case study, Scott would sell the property to his daughter at $2, 00,000. The capital gain tax would not be calculated on the selling price of the property because the capital gain tax is not applicable when a property is being inherited (Woellner, 2013). According to Australian taxation law, the property will be considered as a gift that would be exempted from capital gain tax. Therefore, the capital gain tax will not be calculated, and the asset would be considere d as a gift. c) If the owner of the property is the company rather than an individual, then the answer world a bit different which seemed to be directly dependent on the type of the company discussed. In this case study of the ordinary company, the property would be looked upon as the capital asset, and therefore the capital gain taxes are applied (Loffman, Presant and Rubin, 2008). The capital gain taxes will also be implemented on the individual if the case of the individual is considered. If the company is considered as the real estate company dealing with the selling and buying of the houses and the properties, then the company would not be charged with the capital gain taxes (WALLER, 2007). The reason for this is the in any real estate company, the selling and buying of the properties are the part of the ordinary income, and since it is ordinary income, then the tax would fall under the normal income tax. References Loffman, L., Presant, S. and Rubin, B. (2008).Tenth annual real estate tax forum. New York, NY: Practising Law Institute. Robertson, P. (2008).Australian master tax guide 2008. Sydney: CCH Australia. WALLER, V. (2007). The Challenge of Institutional Integrity in Responsive Regulation: Field Inspections by the Australian Taxation Office.Law Policy, 29(1), pp.67-83. Mason, T. (2010).Income tax law. Frenchs Forest, N.S.W.: Pearson Australia. Parsons, R. (2011).Income taxation in Australia. Sydney: Law Book Co. Woellner, R. (2013).Australian taxation law 2012. North Ryde [N.S.W.]: CCH Australia. Barker, D. (2005).Essential Australian law. Sydney, N.S.W.: Cavendish. Watson, J., Gleeson, J. and Higgins, R. (2013).Historical foundations of Australian law. Annandale, N.S.W.: Federation Press. Woellner, R. (2013).Australian taxation law 2012. North Ryde [N.S.W.]: CCH Australia. Prince, J. (2013).Tax for Australians for dummies. Milton, Qld.: Wiley Pub. Australia Pty Ltd. Woellner, R., Barkoczy, S., Murphy, S., Evans, C. and Pinto, D. (2016).Australian Taxation Law 2016. Melbourne, Vic.: Oxford University Press. Yu, Y. (2008). Determinants of variations in state per capita personal income: a panel data approach.Applied Economics Letters, 17(3), pp.235-239.