Essay on Comparison of A P by John Updike and Araby by...

John Updikes â€Å"A P† and James Joyces â€Å"Araby† are very similar. The theme of the two stories is about a young man who is interested in figuring out the difference between reality and the fantasies of romance that play in his head and of the mistaken thoughts each has about their world, the girls, and themselves. One of the main similarities between the two stories is the fact that the main character has built up unrealistic expectations of women. Both characters have focused upon one girl in which they place all their affection. Both Sammy and the boy suffer rejection in the end. Both stories also dive into the unstable mind of a young man who is faced with one of lifes most difficult lessons. The lesson learned is that things are not†¦show more content†¦This is shown in â€Å"A P† when Sammy quits his job in protest over the girls being mistreated. He hopes to impress the girls with this. It is this example of self-deception that both stories concentrate that brings the young man to his emotional knees as he is forced to return to normal life after the rejection by the girls. For example, one aspect of the girls that fascinates and interests both boys is the whiteness of the girls skin. In â€Å"Araby† the boy mentions the softness and the white curve of her neck. This demonstrates the interest he places in the less noticed features. Sammy is equally as enthralled by the sensuality of his ladys long white prima-donna legs. Also, in â€Å"A P†, Sammy has found himself holding a dollar bill that he obtained from his lady love, to which he says to himself it just having come from between the two smoothest scoops of vanilla I had ever known. In the end, the two boys are faced with the grim reality that the girls have no desire for their company. This is their awakening of themselves. It shows how despair can be both disheartening and uplifting at the same time. The gifts each young man offered his love interest are not well received. No matter their efforts, both young men fail miserably in their attempts to win their respective ladies. Sammy knows what he has done will change his life forever and that nothing can change that now but, is alsoShow MoreRelatedThe Stages of Maturation in James Joyce’s Araby John Updikes AP from the Authors Perspective902 Words   |  4 PagesWhen comparing the views of both James Joyce and John Updike on maturation from adolescence to adulthood it will be important to continually compare two of their similar works in Joyce’s â€Å"Araby† and Updike’s â€Å"AP†. James Joyce and John Updike follow similar views with the latter using Joyce as a foundation a nd following in similar footsteps; both authors follow a process of maturation based on the allure of love, while doing it at different stages of each of the protagonists’ lives resulting in similarRead MoreEssay On Similarities Between Araby And A P1046 Words   |  5 PagesThe stories of James Joyce’s â€Å"Araby† and John Updike’s â€Å"AP† share identical literary traits from each character which are the protagonist. The main point of the two is that they revolve around a young male who is pressured by his conscience to untangle the difference between the harsh reality and the fantasies of romance that play in his head. The young man does indeed recognize the difference is what turns him in the direction of an emotional catastrophe. One of the comparisons between the storiesRead MoreAnalysis Of John Updike s Araby 1967 Words   |  8 PagesJohn Updike s penchant for appropriating great works of literature and giving them contemporary restatement in his own fiction is abundantly documented--as is the fact that, among his favorite sources, James Joyce looms large.[1] With special affinity for Dubliners, Updike has, by common acknowledgment, written at least one short story that strongly resembles the acclaimed Araby, not only in plot and theme, but in incidental detail. That story, the 1960 You ll Never Know, Dear, How Much I LoveRead MoreBusiness and Management2600 Words   |  11 Pages | | | | |Boys and Girls, Alice Munro (pp. 772-781) | | | | |â€Å"Araby,† James Joyce (pp. 879-883) | | | | |Everyday Use, Alice Walker (pp. 1087-1093) |

Financial Data Analysis - 838 Words

Financial Data Analysis Tracey White HCS/577 April 15, 2013 David Mier Financial Data Analysis In addition to delivering health care of the highest quality, another main goal of a health care organization is to remain profitable and viable through effective financial management. In an effort to do so, members of administration along with the Chief Financial Officer (CFO) work diligently in attempting to maintain and sustain a successful health care organization by monitoring the flow of cash (in and out) in accordance to GAAP (Generally Accepted Accounting Principles), while ensuring the needs and wants of the consumers are met. With this being the case, health care accounting skills are equally important in†¦show more content†¦When figured, 48% of revenue was spent on salaries and benefits in 2009 compared to 51% in 2008. The other significant change in depreciation of expenses resulted in a 69% increase from 2008 and 2009. Last but not least, although the net income is still in the negative, improvement is obvious and the facility is looking to recover in 2 010. In review of the balance sheet, appears a significant difference in liabilities and equity. Shown is a drastic increase (248%) in long term debt. The possible explanation for this change may have been the result of the hospital acquiring a loan for a new treatment center on campus (property, plant and equipment). With this being the case, explains the increase in inventories that are up 118% from 2008 to 2009. Again, financial statements are effective tools in helping organizations determine their financial positions in the health care industry. The use of balance statements help determine the amount of assets, liabilities, and equity over long term, while statements of revenue and expenses provides an overview of profits minus expenses short term. In the case of Patton Fuller Community Hospital, per the admission of the CEO, the facility suffered a financial loss; however, with patient net revenue up, they expect future financial statements to show a continued profitableShow MoreRelatedFinancial Data Analysis1778 Words   |  8 PagesRunning Head: FINANCIAL DATA Financial Data Analysis Wanda Douglas Financial Management In Health Care /HCS 577 April 02, 2012 Tricia Jenkins Financial Data Analysis Since 1975, Patton Fuller Community Hospital (PFCH) has been serving the people of the Kelsey and the surrounding communities. PFCH is a for-profit organization and is owned by physician active within the facility. Owned by the physicians active at the hospital, the organization is governedRead MoreFinancial Data Analysis Essay755 Words   |  4 PagesFinancial Data Analysis Daphnnee Johnson HCS 577 March 18, 2013 Sharon Gomes-Sanders Financial Data Analysis After reviewing the balance sheet for Patton-Fuller Hospital for 2008 and 2009, there are significant differences that are noticeable. The retained earnings (or Net Worth or Unrestricted Fund Balance) drastically decreased from 2008 to 2009 (Apollo Group, 2006). The dollar amountRead More Financial Manager Career Data Analysis Essay588 Words   |  3 Pages As the economy expands and employment opportunities increase, the need for workers with financial expertise will go up. I will enter the workforce at an excellent time to pursue a career as a financial manager. The information I have acquired concerning this field including opportunities, salary, and working conditions will justify my decision to obtain a position as a financial manager for a major corporation. The opportunities available to someone with a degree in finance are limited to only aRead MoreData Analysis : A Critical Analysis Of The 2008 Financial Crisis1054 Words   |  5 Pagesascertained. In addition, although all crisis has similar characteristics, they are actually different in nature. Thus, generalisation may not be possible based on this research in terms of either past or future financial crisis. Especially as this study only considered the 2008 financial crisis in its data analyses. Hence, this study has some limitations in spite of the contribution it makes. The first limitation is that as with other studies, this study suffers from subjectivity. This study defines the variablesRead MoreAnalysis And Disclosures Of A Company s Financial Data941 Words   |  4 Pagesthe accounting profession, one of the major issues that requires full attention, is ethical issues. Ethics in accounting and auditing consist of making sound moral decisions regarding the preparation, pres entation and disclosures of a company s financial data (Freedman, 2016). Conducting an ethical audit is of superior importance and occasionally an ethical dilemma will occur. Such as the following example of Barbara Montgomery in her first year as an auditor for Coopers and Rose. Cooper and RoseRead MoreLong Distance Information Delivery1695 Words   |  7 Pagespermanent paradigm shift in the way we communicate. But the biggest challenge for market participants that seek to glean actionable information from social media is filtering through the â€Å"noise†. This report explores how Big Data analytics offer a new generation of tools for financial services participants in their search to decipher social media’s chatter. One Friday in late March of 2015, just before the stock market close, an options trader made what may may have been his or her best trade of the yearRead More Analysis of JNY and LIZ Financial Data Essay2626 Words   |  11 PagesAnalysis of JNY and LIZ Financial Data The following paper will compare the five-year performance of two apparel manufacturers utilizing the DuPont Framework and Return on Equity. Then a three- year analysis of common-size income statements will be undertaken to explain changes in income and expenses within each company. Jones Apparel Group (JNY) and Liz Claiborne (LIZ) are the industry leaders in the manufacturing of better clothing, footwear, fragrances, and costume jewelry, and the subjectRead MoreProject Deliverable 1: Project Plan Inception Essay1192 Words   |  5 PagesInternet based company with the gross revenues of more than $35 million dollars per year. We are planning to merge with multinational company of equal size. Our company currently uses operational systems and relational databases but desire to expand into data warehousing. We will be integrating different technologies from different solution providers and incorporate industry best practices in connection with the development of technological system . Internet-based industry is a growing industry with mostRead MoreIntroduction. Big Data Is One Of The Most Discussed Concepts1506 Words   |  7 Pages Big Data is one of the most discussed concepts in the business world today. The concept of Big Data is one that has been increasingly debated over the past few years by many different kinds of business industries. One industry where this discussion is prominent is the accounting profession. Big Data will be defined more in-depth later on, but in shorter terms, Big Data refers to the exponential sum of data available in our world today. This amount of data is beyond the traditional analysis thatRead MoreTraining Process in Sas1207 Words   |  5 Pagesdemonstrations, hands-on computer workshops, and course notes that result in the best learning experience possible. In addition, we will provide a copy of the course notes to each attendee. Data Manager * SAS Programming Introduction: Basic Concepts INTRO * SAS Programming 1: Essentials PRG1 * SAS Programming 2: Data Manipulation Techniques PRG2 * SAS Programming 3: Advanced Techniques and Efficiencies PRG3 * Querying and Reporting Using SAS Enterprise Guide EGQR4 * SAS Programming

McDonald S Thesis Free Essays

For example, Mange Nasal Food Corporation launched its new available products that truly its the Pinot palate, called â€Å"Mange Nasal Halo Halo†; pinot-Kananga, creamy scrap, compared to its former desserts, which is now being loved by many of their customers. The company launched this product as a latest counterpart for those new products being produced by its rival companies like Chocking, which recently launched their new varieties of foods. However, the basis of winning Filipino loyalty is not just lies upon the taste of the food, but more so, upon how the company values the importance of time to their customers, their status, financial capacity, and establishing a pleasant relationship with hem. We will write a custom essay sample on McDonald S Thesis or any similar topic only for you Order Now In this age of commercialism, in an age where societies are depending upon the businesses of both small and big capitalists, food industry occupies the fundamental and the dominating place in the market since its nature responds to the most basic and vital need of the people – food. Everywhere, every corner of the streets in our nation, there are presence of food and beverage establishments; establishments that played a role of great importance in the midst of an active society. In this age, where people are so engrossed by their jobs or anything that exhaust their mind, fast-food chain r mobile food services play an important aspect in order for them to manage stress by experiencing an excellent dining phenomenon. Their goal is to provide the consumers with full satisfaction, starting from the time they enter into the store until they leave, according to the need of their satisfaction. Mange Nasal was first established in the town of San Bernardino, California in 1940. Americans widely embraced their products until some branches were also established in different parts of the world. In 1981, a Filipino businessman named George Yen brought the name of McDonald’s to the Philippines, and founded the first branch in Moray, Manila. Filipinos loved those varieties of products offered by the company, until branches were also launched in the Visas and Mindanao region. McDonald’s also established their own charitable institution and received its first award in 1 996 for being one of the most profitable franchise in Asia. Today, the company continues in serving the Filipino people, launching a total Of 460 branches nationwide. But the competition in the market is becoming more intense. Before McDonald’s established in the Philippines, those growing companies such as Jollied, KEF, Tropical Hut and Man’s Restaurant are beginning to gain foothold upon the heart of the Filipino. Everyone is promising full customer satisfaction; everyone is launching their own variety of food that will surely captivate the common taste. Aside from this, new food companies begin to emerge offering some kind of foreign taste that will also suit the wants of the Filipino, such as Chocking. How then McDonald’s handle this the kind of fierce competition among food industries? How they will secure the loyalty of their customers from their rivals? On the other hand, what are those indications hat these customers are not loosing their loyalty to their company? This paper will discuss the current state of the McDonald’s company on their buyers’ point of view. By conducting interviews and gathering available documents, the researchers of this paper presented sufficient information according to what has been required in the topic. Statement of the Problem Filipinos are well-known food lovers in the world. In fact, they have light meal times called â€Å"Marianne time†, a snack break-time different from those three meals being taken each day. These snacks or â€Å"Marianne† have usually taken teens lunch and dinner, or even before bedtime and during â€Å"siesta† at the middle of the night. Today, going to fast-food chains is becoming part of Filipinos fundamental â€Å"wants†, not just because of its mouth-watering foods and delightful toppings, but because of its affordability compared with those native delicacies. Their recipes are first widely recognized since the coming of foreign food varieties in the country. Their producers are hardly competing in the market, and among them, McDonald’s is building up a sphere of great popularity in an outstanding speed, becoming people’s utterance more than TTS local petty counterparts, and establishing loyalty among its customers. The aim of this paper is to define those indicators proving that some fast-food goers are now shifting their loyalty towards this American founded food company. These indicators are based upon interviews conducted both among store personnel and customers. In order to establish this aim, the researchers divided this topic into six sub-issues; a. Define the class of people who often eat McDonald’s products. B. Discover the marketing plan of the company in order to win the taste of its current buyers. C. Discover the uniqueness of McDonald’s products compared to other fast-food sellers. D. Learn how the company maintains the loyalty of its customers. E. Know if the company has any other plans or strategy in order to secure customer loyalty from the future changes of competition in the market and switching taste of Filipino people. Significance of the Study Since McDonald’s is one of the fastest growing fast-food chain in the country, with 400 branches already established nationwide, earning a large number Of customers ranging from the common class of people up to some rich local ND foreign food lovers, this paper will provide the readers with information on how the company acquire and maintain loyalty among its customers. Readers should not expect any negative issues about the company’s products, but rather we will discuss the bright side in terms of its market for the benefit of those who want to engage in the same food business. Other sectors that can benefit from this paper include the following; A. Society The society will know how McDonald’s helps them to satisfy their hunger and financial capacity despite of their wants to taste delightful products at an affordable price. This paper will also provide them some significant information about the quality of products McDonald’s are offering to them, including total satisfaction it had promised to their customers. B. Students of Entrepreneurial and Marketing Management Discussing the marketing plan and strategy of the company would be a great help for students taking up Entrepreneurial and Marketing Management since their effectiveness was already proven in the market. Since the company offers insufficient details about their plan and sales rate through the internet, he researchers of this paper exert all their effort to acquire some basic information through interviews conducted among the company’s personnel and costumers so that the students will be informed about the secrets behind the product’s success despite the fact that it was just recently established compared to its counterparts. C. Small Fast-food Business Owners In the midst of intense competition in the market, particularly among food industries, this paper will help those small fast-food business owners to go along with those successful food businesses in winning the publics taste. They can acquire the ideas being presented in this paper, or at least add them with their unique ideas so that they may leave any peculiar mark upon those people who bought their product. The basic marketing strategy of McDonald’s was proven to be effective, therefore adding any peculiar ideas to this strategy or some sort of ingredients to the product itself may help them to secure customers loyalty from the future changes in the market or from the constantly changing tastes of the people. D. Aspiring Business Beginners This paper will help not only those who want to be engaged in the food equines, but also those who are thinking a kind of business that will surely win the favor of the mass. People nowadays are becoming more practical in terms of financial matters without dropping their desire to at least experience some sort of luxury. Therefore, this paper will provide them such a business idea that will suit to the basic needs and wants of the common people at a very affordable price. Scope and Limitations This paper aims to show those indications of customer loyalty towards their favorite fast-food hangout despite the fierce competition among food industries. Since the topic focused on the relationship between the McDonald’s Company and its customers, it is very important to present some documents concerning the company’s sales and the customers’ point of view toward the products, based upon those information available through business periodicals, internet sources, and the target sales board being presented in a certain McDonald’s branch. Because of this, the researchers sought the help of some employees in order to present important details in relation to the topic, because they believe that reaching the target sales of a retain branch indicates a positive response from its loyal customers. How to cite McDonald S Thesis, Papers

Taxation Law Capital Taxation of Century

Question: Discuss about Taxation Law for Capital Taxation of Century. Answer: Case Study 1: Residence and Source Residential status of an Individual for the taxation purpose has been defined under Taxation Ruling (TR) 98/17 of Income Tax Assessment Act (ITAA) 1997. According to the ordinary meaning under subsection 6(1) of TR98/17, an individual is required to satisfy the resides test to determine the residential status within Australia. In case the person fails to satisfy the requirement of resides test then he shall be required to satisfy one of the three conditions of statutory test (Sharkey 2015). Resides Test: As per TR98/17, an individual is regarded as an ordinary resident for the purpose of tax if the person resides in Australia. Statutory Test If the individual fails to satisfy the resides test then the residential status shall be examined by considering any one out of three requirements that are as follows: Domicile Test: An individual is considered to be Australian resident if his place of permanent domicile or home is in Australia. 183- Day Test: If a person resides in Australia for more than 183 days whether or not continuously, he shall be said to have constructive residential status in Australia. Superannuation Test: Under this test, government employees of Australia working overseas are required to be treated as resident of Australia. In the provided case, Fred, a management consultant of British Corporation came to Australia to set up an office branch and stayed for 11 months which was uncertain. During his stay in Australia, he was accompanied by his wife but his son stayed in London for studies whereas his daily behavior remained similar to that of his home country. Moreover, Fred earned rental income from UK property as well as interest on investments acquired in France. Considering the fact of the case, Fred is not an ordinary resident of Australia as per resides test condition under TR98/17 of ITAA 97 because he does not stay in Australia in ordinary course. Hence, to check his residential status in Australia for taxation purpose secondary test known as statutory tests shall be considered. Domicile test shall not be applied to check Freds residential status because he does not have any permanent home in Australia (Buse et al. 2016). Secondly, superannuation test shall not apply because Fred is not an Australian government employee. Hence, 183- day test shall be considered to examine his residential status which requires a persons stay in Australia for more than half of current tax year. Since, Fred stayed in the territory for more than 183 days i.e. for 11 months, he shall be considered as Australian resident for taxation purpose (Zelinsky 2016). Even though Freds stay in Australia was not certain yet his total stay was more than six months and he had leased a residence to stay in Melbourne for 12 months. Accordingly, based on the case of Levene v IRC (1928) AC 217 Fred is an Australian resident for tax purpose under subsection 6(1) TR 98/17 ITAA 97. Case Study 2: Ordinary Income I. Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC 159 Fact of the case: The taxpayer had provided an object clause in its memorandum of association about the acquisition of copper bearing land in California. The company disposed off the maximum value of its share capital for the acquisition of land. Further, the company lacked sufficient funds to conduct work on land and eventually sold a part of the land (480 acres) to Fresno, another copper company against its fully paid shares. Issue of the case: Whether the income earned on the sale of land was capital income or revenue income as an assessable income of ITAA 36. Decision of the case: The taxpayer contended that the surplus amount earned from the sale of land should be capital income rather than assessable income as the transaction was a mere substitution of capital asset. On the contrary, the commissioner of income tax contended the surplus amount to be assessable in the income of the taxpayer. Observing the facts, the transaction on sale of land it was concluded that the taxpayer has entered into the sales transaction as a speculative business in order to incur profit (Hughes et al. 2015). Accordingly, the Federal court in its verdict stated that the intention of the company was to evade tax liability by disclosing it as a substitution of investments. However, the sale of land was actually a business transaction and the income earned by the company is recognized as an ordinary income and not as capital income. II. Scottish Australian Mining Co Ltd v FC of T (1950) 81 CLR 188 Fact of the case: Scottish Australian Mining Company, the taxpayer operated the business of mining coal on a part of 1771 acres of land acquired in the year 1860. As the main coal seam had exhausted in few years of mining, the taxpayer had decided to sell it off after the year 1924. In order to obtain attractive sales revenue, the company had spent considerable expenses for the development of land and subdivided the same in various parts. The company sold the subdivided land parts and incurred surplus which was considered by the taxpayer as capital income. Issue of the case: Consideration on sale of land should be recognized as capital income or assessable income as per section 25(1) ITAA 36. Judgment of the case: It was stated by the courts judgment that the company cannot divert its intention and business activity from its main objective. Hence, the use of land should be only for mining coal and not for any other purpose or business activity. The court did not agree with the companys view on realizing the capital asset in the most advantageous manner should be considered as capital transaction (Auerbach and Hassett 2015). Accordingly, it was decided that the income on sale of land should be revenue income because the intention of company was to form business operation on land and to incur profit from its sale. III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLR Facts of the case: The taxpayer, Whitfords acquired the land for the benefit of its original shareholders for accessing shacks rather than any other business activity for the purpose of generating profit. However, for some unforeseen reasons the taxpayer along with the other there companies sold the land amounted to $1.6 million and incurred profit more than its projection. The taxpayer contended that the income from such sale should be regarded as capital income and not as assessable income under section 25(1) of ITAA36 because the sale transaction was in regard to the ordinary usage. Issue of the case: Whether the income from sale of land should be considered as capital income or revenue income for the purpose of taxation system. Decision of the case: The Company argued that it had not conducted any business activity on the land accordingly, the surplus realization should be considered as capital income. On the contrary, the commissioner and the court argued based on the case of Scottish Australian Mining Co Ltd v FC of T (1950) 81 CLR 188, that the intention of the taxpayer was generating profit. The contention of the taxpayer on subdivision of land for its best utilization and for realization of capital asset was not tenable as per the courts decision subject to the intention of company to enter the sale transaction (Piketty 2015). Therefore, the surplus amount from the sale of land should be considered as assessable income under section 25(1) of ITAA36. IV. Statham Anor v FC of T 89 ATC 4070 Fact of the case: In this case, a traditional farmer had acquired a farmland to raise his family according to the rural environment and to conduct farming. The farmer entered into partnership to raise the cattle on the farmland but the owner could not achieve the target. Apparently, the owner decided to divide the land and sell it off during the period 1980 to 1986. For this purpose, the owner marketed the subdivided land through local real-estate agents during the period and eventually sold off the land by incurring profit. Issue of the case: Whether the surplus amount generated from the sale of land should be assessable income under section 25(1) of ITAA36 or as capital income. Decision of the case: As argued by the court on assessability of the income earned on the sale of land by the farmer, it was observed that the sale transaction by farmer was not a business activity. Further, the intention of the taxpayer for sale of land was not to generate profits therefore, mere subdivision of land and its sale cannot be regarded as taxable income (Jones 2015). In the present case, the objective of the farmer did not involve continuous purchase and sale of land as a business activity. Hence, the court decided that the income received by the farmer from the sale of land should be regarded as capital income. V. Casimaty v FC of T 97 ATC 5135 Fact of the case: George Casimaty acquired a farmland property of around 988 acres from his father by making the payments in installments in 1955. The farmer acquired further 40 acres of land in the year 1956. In order to conduct business of farming and fences the farmer formed a homestead on the acquired land without an intention to sell the land. Further, the farmer carried on the dairy operation business until the year 1965 but due to bad health, he incurred substantial losses, huge debts and eventually sold the two- third parts of land. Issue of the case: Whether the income from the sale of land should be included in the assessable income of the taxpayer or in the capital income in ITAA36 Decision of the case: The taxpayer contented that the sale of land does not constitute a business activity hence should not be included in the taxable income under section 25(1) ITAA36 (Mares and Queralt 2015). However, the court observed that the intention of the farmer was not to incur profit from the sale of land as well as the farmer had not acquired any further land as a means of stock. The owner also did not conduct any business activity by further acquisition of the land. Therefore, based on the decided case of Hudson's Bay Co. Ltd.v.Stevens(1909) 5 Tax Case 424 it was concluded that the income earned by the farmer would not constitute assessable income. The surplus amount should be considered as a capital income for the purpose of taxation system in ITAA36. VI. Moana Sand Pty Ltd v FC of T 88 ATC 4897 Fact of the case: This case covered the business operation of sand extraction from the land acquired by the taxpayer, which was bought by the beachside in 1958. After the extraction of sand, the owner decided to sell the land to its related company as the land was not sufficient to further extraction. However, in the year 1979 the land was resumed for $500,000, which was paid in the beginning of 1980 with the payment of balance in later years. Eventually, the owner sold the land and contended that the income on such sale shall be capital income and not a revenue income. Issue of the case: Income on sale of land should be considered as capital income or revenue income Decision of the case: It was argued by the court that the sole objective of the company as to conduct the business of sand extraction and to generate profit. Additionally, the resumption of land was also a part of the business activity hence, the transaction on sale of land would constitute revenue income (Hardy and Kelsey 2015). Accordingly, it was concluded that the income earned by the taxpayer should be assessable income rather than the capital income. VII. Crow v FC of T 88 ATC 4620 Fact of the case: The taxpayer acquired the 300 acres of farmland from the borrowed fund costing $45,000 in 1962. The owner acquired another 556 acres of land on lease near Clifton Beach and subdivided the acquired land into fifty- one subparts. The owner sold off the subdivided parts in subsequent years at high rates amounted to $226,185 during 1968 to 1980, which was a continuous process to earn profit in the business activity. The company earned approximate profit of $388,288 from the sale of several parts of land. Issue of the case: If the profit on sale is considered to be assessable income or capital income. Decision of the case: It was clear from the given fact of the case that the intention and objective of the taxpayer was to incur profit from the continuous business activity on sale and purchase of land. Based on the case of California Copper Syndicate vs. Harris (1904) 5 TC 159 the federal court concluded that the income from sale of land constitutes assessable income and not capital income (Vijayabaskar and Menon 2015). VIII. McCurry Anor v FC of T 98 ATC 4487 Fact of the case: The case is about two brother who acquired a land from their own funds and bank loan where an old house was constructed already. The owners demolished the old one and built and three new units of townhouses with the intention to sell it off. Due to unfavorable market structure the owners could not sell the units therefore used two unites for family residence. Apparently, the owners could sell the houses in December 1988 by incurring profit of $75,811 attributed to each of the brothers. Issue of the case: Recognition of income as capital income or revenue income under section 25(1) of ITAA36 Decision of the case: It was observed that the transaction entered by the taxpayers is of business venture and a commercial deal. The purpose of acquisition and sale of land and construction of house units was earning profit through the business activity (Stadelmann and Billon 2015). Therefore, the federal court decided that the profit on sale of land should be business income rather than the capital income. Reference List: Auerbach, A.J. and Hassett, K., 2015. Capital taxation in the twenty-first century.The American Economic Review,105(5), pp.38-42. Buse, J.B., DeFronzo, R.A., Rosenstock, J., Kim, T., Burns, C., Skare, S., Baron, A. and Fineman, M., 2016. The primary glucose-lowering effect of metformin resides in the gut, not the circulation: results from short-term pharmacokinetic and 12-week dose-ranging studies.Diabetes Care,39(2), pp.198-205. Hardy, K. and Kelsey, T.W., 2015. Local income related to Marcellus shale activity in Pennsylvania.Community Development,46(4), pp.329-340. Hughes, J.C., Poole, M., Louw, S.J., Greener, H. and Emmett, C., 2015. Residence capacity: its nature and assessment.BJPsych Advances,21(5), pp.307-312. Jones, C.I., 2015. Pareto and Piketty: The macroeconomics of top income and wealth inequality.The Journal of Economic Perspectives,29(1), pp.29-46. Mares, I. and Queralt, D., 2015. The non-democratic origins of income taxation.Comparative Political Studies,48(14), pp.1974-2009. Piketty, T., 2015. About capital in the twenty-first century.The American Economic Review,105(5), pp.48-53. Sharkey, N., 2015. Coming to Australia: Cross border and Australian income tax complexities with a focus on dual residence and DTAs and those from China, Singapore and Hong Kong-Part 1.Brief,42(10), p.10. Stadelmann, D. and Billon, S., 2015. Capitalization of fiscal variables persists over time.Papers in Regional Science,94(2), pp.347-363. Vijayabaskar, M. and Menon, A., 2015. Peripheral Agriculture? Macro and Micro Dynamics of Land Sales and Land Use Changes in the Changing Rural Economy of Kancheepuram.communication lors du sminaire du CEIAS-à ¢Ã¢â€š ¬Ã‚ EHESS, Paris,6. Zelinsky, E.A., 2016. Defining Residence for Income Tax Purposes: Domicile as Gap-Filler, Citizenship as Proxy and Gap-Filler.Michigan Journal of International Law,37.