Bac Company Profile - 904 Words

Bank of America Company Profile BJ Humphrey Overview Bank of America is a global financial services company headquartered in Charlotte, NC. It is one of the world’s largest financial institutions. Bank of America serves over 53 million customers. They serve these customers through 5,500 retail banking offices. Bank of America is known as a leader in the online banking world. Online alone the company services 30 million active users. The company serves customers in all 50 states and more than 40 countries. The company has numerous different lines of business and employs over 260,000 people. (Bank of America 2012) Historical Perspective The entire banking industry is made of mergers and acquisitions. The history of Bank†¦show more content†¦(Our Heritage, 2010) Bank of America continues to grow acquiring financial service companies like US Trust and Merrill Lynch. With a storied history in the financial services sector, and building of our country, Bank of America is the most fitting name. Lines of Business Bank of America focuses on 3 customers. They focus on the people, companies, and institutional investors. They are the leading provider of checking, savings, credit and debit cards, and home equity lending. Bank of America is the nation’s largest loan servicer offering numerous different home mortgage options. Bank of America is a strong hold in Global Corporate and Investment banking. The Bank also has a strong focus on financial advising and wealth management. The addition of Merrill Lynch has put Bank of America as the leader in Financial Services. Financial Position Bank of America, or BAC, is often one of the most popularly traded stocks. In April, the share price of BAC declined over 5% to $11.63. (Oleinic, 2013) As interest rates start to bottom out, the bank must constantly adjust to keep revenue up. Currently the 52 week range of BAC is $6.90 - $13.99. Although it has a larger 52 week range, the company is still somewhat stable. It has achieved this by building a strong balance sheet. In 2012 Revenue in millions was reported at $84,235 while Net income was reported at $4,188. Compared to 2011 revenue dropped almost $10,000 however Net income increased fromShow MoreRelatedFi564 Pnc Bank Analysis Essay2644 Words   |  11 PagesAnalysis Course Project Gloria Guzman FI564 Management of Financial Institutions Professor Tracy Thompson June 16, 2012 This comprehensive paper will analyze the financial standing of PNC Bank. In the first part o we will look at PNC Bank’s profile, mission statement and future direction. An analysis of PNC’s strengths and weaknesses based on PNC’s financial statements and ratios will be conducted. PNC will also be compared to the industry and to Bank of America. The Federal Reserve interestRead MoreEssay On Conpartum Profile1227 Words   |  5 PagesPostpartum Profiles Convalescent leave after delivery will be determined by the attending physician. This will normally be for 42 days. Convalescent leave after a termination of pregnancy (for example, miscarriage) will be determined on an individual basis. Prior to commencing convalescent leave, postpartum Soldiers will be issued a temporary profile for 45 days. If the soldier decides to return early, the temporary profile remains in effect. Soldiers will receive clearance from the profilingRead MorePROVISION OF EFFECTIVE AND EFFICIENT ADMINISTRATION2691 Words   |  11 Pages has been sourced from relevant books or online and has been mentioned in the reference or bibliography and any information specific to the program is in my own words and I conform to the authenticity of the same. 2. Introduction ABOUT MY COMPANY – WHAT NGA DO AND WHAT NGA STAND FOR NorthgateArinso (NGA) is a market-leading global Human Resources services provider offering innovative HR business solutions through HR Technology, HR Outsourcing (HR BPO), and HR Consulting. NGA help employersRead MoreThe Collapse of Bank of America: Causes, Effects, and Analysis1121 Words   |  4 Pagesclassified into market, economic, and management factors. The management practices that contributed to the collapse of the financial institution include foreclosures, payment of huge bonuses despite of the government bailout, and the tendency by the company to dodge taxes. In relation to the economic and market factors, the firms collapse is linked to the significant impacts brought by the global credit crisis. While various departments were affected by the credit crisis, financial institutions thatRead MoreRussian Artist : Mikhail Nikolaevitch Baryshnikov1689 Words   |  7 Pagesdancers and choreographers. Baryshnikov explore other professional opportunities and he was nominated for an Academy Award for his acting in the dance world drama The Turning Point in 1977. While he spent a lot of time working behind the scenes on BAC, Baryshnikov never stepped away from performing. He made a memorable guest appearance in the cable comedy Sex and the City as a Russian artist and the love interest of Sarah Jessica Parker from 2003 to 2004. Despite knee troubles, Baryshnikov continuedRead MoreVietnam Internet Data Center Report9450 Words   |  38 Pages2007.............................................................................. 13 3.6 Market Forecast [total floor space now/projected], Location Comparison [between cities] ............. 13 4. Part II – DATA CENTRE SERVICE PROVIDER OVERVIEW [Profiles] ........................................... 15 4.1 Telecommunication (Telcos) ................................................................................................... 15 Vietnam Post and Telecommunications Group (VNPT) ..............Read MoreVietn am Internet Data Center Report9450 Words   |  38 Pages2007.............................................................................. 13 3.6 Market Forecast [total floor space now/projected], Location Comparison [between cities] ............. 13 4. Part II – DATA CENTRE SERVICE PROVIDER OVERVIEW [Profiles] ........................................... 15 4.1 Telecommunication (Telcos) ................................................................................................... 15 Vietnam Post and Telecommunications Group (VNPT) ..............Read MoreUS Bank Corp. Analysis2538 Words   |  11 Pagesloans, and other individual loans. In this analysis the overall strength of US Bank will be evaluated and will be compared with two similar financial institutions. The two institutions chosen for comparison are Wells Fargo (WFC) and Bank of America (BAC). To evaluate the overall strength the major assets, liabilities, capital, risk, liquidity and operating decisions of the three chosen institutions will be discussed. Balance Sheet Analysis Out of the three banks US bank is theRead MoreShangrila Hotel1840 Words   |  8 PagesShangri-La Hotels Malaysia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Phone: +44 20 8123 2220 Fax: +44 207 900 3970 office@marketpublishers.com http://marketpublishers.com Phone: +44 20 8123 2220 http://marketpublishers.com Shangri-La Hotels Malaysia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Business Analytic Center (BAC) Date: Oct, 2011 Pages: 50 Price: US$ 499.00 ID: SE8C27A604AEN Shangri-LaRead MoreBasic Measures, Policy Statement, and Securities Markets3031 Words   |  13 Pagesarticle published on Investment in mutual Fund, the mean (arithmetic and geometric) and standard deviation are the first and most simple of the basic statistical concepts used in investing. The mean and standard deviation of returns provide the basic profile of any security with respect to risk and return. The mean, in statistics, is merely the arithmetic average. The mean in investment is used as an estimate of expected future returns because it s the best estimate solely from past data. So it is uses

Advertisement Is A Powerful Thing On Our Life - 1335 Words

Advertisement is a powerful thing in our life. With the new technology, many companies are trying to build up a strong customer base that they can count on to buy their product. Thereby, they use various marketing strategies to promote and increase their sales. The best way to encourage, persuade, or manipulate the audience is to use advertising to call the public’s attention to their product. One important niche product line is the handbag which is part of the products that companies sell through advertising just to emphasize the qualities and the benefits of the product which is nothing but to be stylish. Analyzing two handbags advertisement that targeted different audience, we can see the marketing and advertising strategies that are†¦show more content†¦The photo is taken in black and white with a gray background to make the elegance and power stand out. Dressed in a long black suit, he is a perfect mix of charisma as a real gentleman; he is facing at the camera w ith the looks of a bad boy, and carrying a black handbag that matches the color of his garment. Additionally, the signature of â€Å"Givenchy Paris† flaunt across the center of the image. On the right side of the advertisement, below the picture text reads: â€Å"New York Madison Avenue – Miami Design District – Last Vegas Wynn†. As of the left side, the website of the signature â€Å"Givenchy.com† appears. I think that the advertisement is more effective. It relies the glamourous power of all celebrities whether athletes or model. The ad for Michael Kors appeared in Vogue which targets females who are in their twenties, care about style, beauty, and female fashion, and have a lot of money to spend on such products. They want something that make them feel fabulous. This evidence is based on all the articles in the magazine, and images that have traits from each of these aspects. This magazine in its entirety has many articles focusing on female style. Style such as Dillard’s, Chloe, Antonio Melani, Simon, Ralph Lauren, Valentino, etc†¦ are important defining this publication. The female beauty productsShow MoreRelatedTechnology And Social Media Of Our Generation1663 Words   |  7 PagesOur society is filled to the brim with visual images. Some more noticeable than others, yet they all impact our minds and thoughts differently even if the ideal is not visible on the surface. Gender, race, age, social class, etc., they all come into factor when affected by images of society. Although they are just i mages, current day society has learned to take pictures and warp them into anything they want to create. Some see these new advances of Photoshop and editing as a form of art, signifyingRead MoreThe Nivea Stress Protect Antiperspirant Deodorant Advertisement1610 Words   |  7 PagesThe Nivea ‘stress protect’ antiperspirant deodorant advertisement, televised in 2014 by Beiersdorf Australia Ltd, is a text which constructs an evident manipulation of gender roles and their function in consumerism. In this advertisement a man appears stressed from work and collapses lethargically on the couch while the woman arrives home from work looking energetic with a young child, bags of shopping and speaking on the phone. Through Semiotics, the study of signs and their meanings, I will analyseRead MoreApple s First Macintosh Commercial1309 Words   |  6 Pagesthat will save the world and people believed it. Most of us now own an Apple brand. This advertisement is an effective ad because it contains a valuable message that was provided to the viewer by using contrasting visuals and it is about awakening the people and breaking the chains of similarity and loving to be different. Yet, it is ironic because Apple has become one of the most controlling companies in our society. In the complex mysterious 1984 commercial of Apple Mac that definitely needs aRead MoreThe Impact Of Media On The Media903 Words   |  4 PagesThe Life that is My Media Media according to Dictionary.com is defined as â€Å"the means of communication, as radio and television, newspapers, and magazines, that reach or influence people†. While the definition is correct at the same time it fails to recognize another form, which is social media sites on the Internet. An unprecedented amount of technology uses as tools of influence to convince citizens to purchase and consume on a regular basis with a usual pitch that if one does not than life suddenlyRead MoreThe Negative Effects Of Advertising And Its Effects On Society885 Words   |  4 Pagesyears, advertisements are the mass communication of people in the world to many purposes. Producers spread their advertisements all over the world in a public medium within a minute. Producers use advertisement to sale their products. Society are using advertis as the use of communication and get a lot of informations from them. According to the writer â€Å" ...advertising, like any form of mass commun ication, can be a force for both good and bad. .† There are different types of advertisement, someRead MoreThe World s Largest National Economy908 Words   |  4 Pageshas the world’s largest national economy. I was bombarded with tons of advertisement every day when I first came to â€Å"The land of the free†. Either it is from the internet, TV commercials, billboards, stores or even hearing people talks about it. And at the same time, advertisement is not only becoming part of our life, but also our culture. As we all know, the purpose of advertisement is to influence people, yet the advertisement that the media publish unconsciously brainwash the people’s mind, inRead MoreThe Degenerative Influence of Advertising on Society Essay1563 Words   |  7 Pagesdeeply rooted in high ethical standards, destroys any concept of community, common morality or deep bonding. Advertisements thrust products and services at consumers that they deem necessary in order to be loved, beautiful, happy, and fulfilled. Without these â€Å"necessities,† we feel judged, out casted and criticized. These possessions, however, make us self-loathing. Subsequently, we lose our sense of significance and find it hard to accept love and friendship from the people surrounding us. 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Growing up A Journey of One’s Identity Free Essays

It is inevitable that people age. Every human being, and every being for that matter, grows old. Age is a natural phenomenon that cannot be avoided. We will write a custom essay sample on Growing up: A Journey of One’s Identity or any similar topic only for you Order Now Part of growing up is discovering one’s identity. As people age, they constantly undergo a process where they mold themselves into unique individuals. Every experience that a person goes through influences his personality, his character, and his identity. It is through such experiences that people get to see who they really are. Triumphs and failures in life are vital for they help strengthen the character of the person. In a way, when an individual goes through an experience, he is shaping his character regardless of the outcome of his endeavor. From childhood to adulthood, every experience brings forth a certain lesson that is inculcated in the individual’s being. These lessons are what define the individual for they directly affect the person that they are. The development of the person and the journey of self-discovery as a person grows up are discussed not merely in the various fields of science. Literature too has its share of works of art that provide an input of how growing up involves the molding and shaping of the person’s identity. Although not directly discussed, literature highlights how the journey of aging is in parallel with an individual’s journey towards defining an identity of his own. In Mary E. Wilkins’ short story, â€Å"Mistaken Charity,† the journey of two women through age and time is told. Moreover, it shows how their aging coincides with their realization of who they really are. Harriet and Charlotte are two sisters who never marry. Their life is built on their work and on their struggle to survive. However, as age catches up with them, and their aged bodies can no longer stand their own lines of work, they begin to realize that they are not all about their work. When given a chance to move out of their tattered house and into a better life, they discover that it is their experiences living in that house that defines who they are. They are not used to the life in the â€Å"Home† for it does not feel like home to them. This is what drove Charlotte to say, â€Å"O Lord, Harrià ©t†¦ let us go home. I can’t stay here no ways in this world. I don’t like their vittles, an’ I don’t like to wear a cap; I want to go home and do different. The currants will be ripe, Harrià ©t. O Lord, thar was almost a chink, thinking about ’em. I want some of ’em; an’ the Porter apples will be gittin’ ripe, an’ we could have some apple-pie. This here ain’t good.† (Wilkins, 148) This shows how no matter how much better another life seems to be, people will always go back to their old way of life for the life they have gotten used to defines who they really are. Another story that show how growing up means defining who you really are is told in Nathaniel Hawthorne’s â€Å"Young Goodman Brown.† The story tells of how one experiences that Goodman Brown went through in his young days completely changed his outlook on life. His journey through the forest wherein he met the mysterious figure which many associate with the devil may indeed be a dream. However, that experience opened his eyes to the reality that people may not be what they perceive him to be. The good Christians that he thought they were may actually simply be a cover-up of their real selves. Although it could be a dream, the experience was enlightening for Goodman Brown. More importantly, it was very influential in molding the personality of Brown and his outlook on life. After the experience, Goodman Brown ended up becoming a cynic. He was always wondering whether the people around him were who they really were. In fact, Goodman Brown even began to doubt the sincerity of his wife, whom he used to love and trust dearly. After the said event,   Ã‚  he turned into a cynic, wary and pessimistic of his wife and his faithfulness and fidelity. The last paragraph of the story explains the effect that the experience in the forest had on him. In the said paragraph it was stated: â€Å"A stern, a sad, a darkly meditative, a distrustful, if not a desperate man did he become from the night of that fearful dream. On the Sabbath day, when the congregation were singing a holy psalm, he could not listen because an anthem of sin rushed loudly upon his ear and drowned all the blessed strain. When the minister spoke from the pulpit with power and fervid eloquence, and, with his hand on the open Bible, of the sacred truths of our religion, and of saint-like lives and triumphant deaths, and of future bliss or misery unutterable, then did Goodman Brown turn pale, dreading lest the roof should thunder down upon the gray blasphemer and his hearers†¦Ã¢â‚¬  (Hawthorne, 127) The stories provide evidence of how experiences mold and shape the identity and personality of the individual. Both Goodman Brown and the sisters demonstrated how they are made by their experiences. Thus, it can be said that growing up and aging is a process of defining one’s self. It is a process of discovery brought about by life experiences where lessons are learned and imbedded in one’s way of life. Works Cited: Hawthorne, Nathaniel. â€Å"Young Goodman Brown.† Literature and society: An introduction to fiction, poetry, drama, nonfiction. 4th ed. Eds. Pamela Annas, Robert Rossen. Upper Saddle River, N.J.: Prentice Hall, 2007, pp 117-127. Wilkins, Mary. â€Å"Mistaken Charity.† Literature and society: An introduction to fiction, poetry, drama, nonfiction. 4th ed.   Eds. Pamela Annas, Robert Rossen. Upper Saddle River, N.J.: Prentice Hall, 2007, pp 140-150. How to cite Growing up: A Journey of One’s Identity, Essay examples

Taxation Law Broad Based Consumption Tax

Question: Describe about the Taxation Law for Broad Based Consumption Tax . Answer: Introduction The Government of Australia itself directly controls the taxation system in Australia. The provincial governments and local governmental bodies make chief contributions in implementing the legislations related to the taxation of Australia. Goods and service taxes are levied on the products and services, which are subject to taxation. Employees of the organizations are entitled to pay this tax to the Government of Australia. For illustrating this matter, two case studies have been provided here (Alley et al. 2014, p.52). The assignment aims to show the structure of the Australian taxation system with special reference to the case study pertaining to the capital gains tax and-and fringe benefits tax. In the attempt of achieving this aim, two case studies have been provided so that detailed analysis can be done on the basis of these two case studies and detailed picture of Australian taxation system and legislations related to taxation can be got. Case Study 1 It is evident from this case study, that Fred being intended to sell his holiday home, signed a legal contract with the purchaser on the basis of which the sale of the asset was confirmed and he gained $800,000 after making the sale of his asset. Additionally, he had to pay fees for settling the legal matters and some of the amounts was also paid to the real estate agent, who made the contribution in facilitating the sales process of the tangible asset for Fred (Apps and Rees. 2013, p.67). It was the same home, which was bought by Fred in the 80s at the cost of $100,000 including the cost of stamp duty and legal fees (Baral et al. 2013, p.33). Now the issue is to find out the net capital gain for the year in which he sold his assets on the basis of the comparison between the selling cost and purchasing cost of the tangible asset in the light of mathematical calculation and analysis. For making in-depth analysis of the whole scenario, the table mentioned below can be referred: (Refer to Excel sheet 1) Amount Fred received Amount Received from purchaser $800,000 Amount Fred incur when he sell Amount incurred for legal fees $1,100 real estate agent' commission $9,900 Amount Fred incur when he purchase Amount price of holiday home in actual $100,000 stump duty when he purchased $2,000 legal fees $1,000 incurred to build a garage $20,000 After incur legal fees and agent's commission the amount Fred have $789,000 Total amount that Fred incur when he purchased the holiday home $123,000 Total net capital gain of Fred in recent year $666,000 Assuming Fred's net capital loss $10,000 Total net capital gain $656,000 Table 1: calculation for Net capital gain (Source: self developed) Analysis: In this analysis, it is obvious that Fred has earned $656,000 in the form of total net capital gain in the current year after the deduction of minimal in the form of the net capital loss from the total amount, which was $666,000 only (Besley and persson, 2014, p.99). It has been assumed that the amount of net capital loss was $10,000. From the above-mentioned table, it is evident that the current valuation of the asset is $789,000 excluding legal fees and real estate agents commission. On the other hand, the total value of the asset was $123,000 when Fred made the purchase for buying the holiday home. The previous value of the asset at the time of purchasing was deducted from the current value of the asset at the time of selling and the net capital gain of Fred was $656,000 excluding net capital loss (Braverman et al. 2015, p.52). If the loss arises from the sale of an antique vase, then it will not be calculated as capital loss because it is not considered as capital for Fred. So the loss from the sale of antique vase may be considered as a mere loss for him (Brody et al. 2014, p.65) Legal Framework related to Goods and Services Tax: There are some legislations related to the Goods and Services Tax such as A New Tax System (Goods and Services Tax Act) which came into effect in the year 1999 (Cortis and Eastman. 2015, p.181). The act was divided into different parts. From this legislation, an overview of the Goods and Services Tax can be got and a relation between Goods and Services Tax and basic idea regarding central provisions related to Goods and Services Tax and input tax credits can be got (Eccleston, 2013, p.103). Moreover, Moreover, some of the special rules relating to Goods and Services Tax returns and Goods and Services Tax payments are also mentioned in this act. In addition to that, more information can be received regarding the Goods, Services Tax groups, and its membership requirements. Australian Taxation Office plays main role in handling matters related to Goods and Services Tax and in an effective implementation of A New Tax System (Goods and Services Tax Act) of 1999 (Faccio and Xu, 2015, p.277 ). Case Study 2 In this case study, three scenarios are given on the basis of which issues related to three scenarios are to be found out (Krever and Mellor, 2014, p.37). It is evident from first scenario that Emma being entitled to receive fringe benefits from her employer Periwinkle, has received a car which later on, was purchased by her at the cost of $33,000 including Goods and Services Tax. The employer itself also reimbursed the expenditure related to the car repair. Now the issue is to find out the extent of loss, which was incurred to due, the minor repairs of the car and from what aspect, it affects the financial performance of the Perrywinkle (Liu and Freudenberg, 2014, p.37). In the second scenario, it can be seen that Emma spent 90% of the loan amount for purchasing holiday home and remaining 10% was spent on purchasing the share. Now the problem is to find out what are the issues the company had faced in providing the fringe benefits to its employee and what return the company can expect to get from her (Pearce and Pintu, 2015, p.46). In the third scenario,it is evident that the manufacturing cost of a bathtub is $700 and selling cost of the same is $2,600. Hence, a company has gained $1,900. This bathtub was sold to her at the cost of $1,300. Hence, the amount of loss incurred was $600. The issue is to make a detection of how the employer can find out the way of recovering this and how this loss affects the financial performance of the company (Woellner et al. 2016, p. 34). The entire matter will be analysed in the light of mathematical calculation Advice to Periwinkle regarding FBT consequences and calculation for FBT liability (Refer to Excel sheet 3) Things that has to be consider Amount purchase of car by Periwinkle $330,00 car expense by Emma for company $550 Loan of Emma given by Periwinkle $500,000 used loan by Emma $450,000 purchased share by Emma $50,000 purchase of bathtub by Emma $1,300 cost of bathtub to periwinkle $700 sale of bath tub by periwinkle $2,600 Portion of loan given to husband Amount Car facilities given company 7877 Loan Facilities given to Emma 337500 bath tub 2600 Less of Price of bath tub 1300 1300 Total 346677 Fringe benefit tax liability 364595 If the Portion of loan not given to husband by Emma Amount Fringe benefit tax liability 347466 {346677+ 50000*(5.95-4.45)% } *2.1463 *49% Statutory factor 26% Number of days car was used 336 Total number of days 366 Fringe benefit value of car given to Emma 7877 Fringe benefit value of loan for real estate purchase by Emma 337500 Table 2: Calculation of FBT (Source: Self developed) Analysis: Here in case of calculation of fringe benefit purchase of car by the company, car expenses by Emma, the loan amount paid to Emma, the loan amount used by Emma, share amount that purchased by Emma, purchased bathtub by emma, cost of bathtub and sale of bathtub will be add first and by giving proper analytical thoughts, it will be evident that Emma has gained $3,46,677 in the form of fringe benefits which includes loan facilities given by the company, purchase of bathtub, car facilities and purchase of share . Plus she has received $500,000 as a loan with 4.45% rate of interest. Had she or her husband invested all the amount on share market, the interest rates could have increased up to 5.95% as per the assumption (Burkhauser et al. 2015, p.181). In this case actually Emma gain from The company which help her to increase the income and it make her more interested in work. Fringe benefit are given by many of the company to the employee to make them productive. Legal Framework: The most important legislation related to the Fringe Benefits Taxation is Fringe Benefits Tax Assessment Act, which came into effect in the year 1986. In this act, the detailed idea can be got regarding the rules and regulations related to the fringe benefits taxation (Williams and Martinez-Perez, 2014, p.802). These taxations are supposed to be collected from the employers. In addition to that, information can be received regarding the value of the car fringe benefits, debt waiver fringe benefits, loan fringe benefits, expense payment fringe benefits, housing fringe benefits, car parking fringe benefits, residual fringe benefits etc, Moreover, there are another fringe benefits and that is living-away-from-home-allowance fringe benefits. Recommendations and regulations have also been mentioned for keeping away from fringe benefits taxation. The property also comes in the ambit of the rules and regulations of Fringe Benefits Tax Assessment Act of 1986. The implementat ion of this act is taken care by Australian Taxation Office. b) (Refer to Excel sheet 2) Amount($) Periwinkle provided loan to Emma at an interest rate 4.45% 500,000 Emma used the loan to purchase car 450000 The part of loan given to husband 50000 If Emma purchase a share with amount 50000 Here assuming the interest rate she can earn from share 5.95% Then she can earn an amount from share for herself 5297500 Table 3: Calculation of earning from share (Source: Self-developed) Analysis: In this case, Emma can buy a share with the amount of $50000 instead of giving that amount to her husband as the loan without interest. If she buy share and the interest rate of share assumed 5.95% then she can earn the amount of $5297500. This can be added to her income it also help to increase her income, in the contrary if she gives loan to her husband with interest rate then also she can earn from that particular part which, also help her to increase income (Burman, 2010, p.34). As Emma can buy share with the loan amount then she can earn more amount of money not only that she also earn interest from that and if the company gain from the business then also she will be able to earn more. Conclusion It has been evident that how capital gains tax is necessary to calculate the value of the tangible asset and how fringe benefits of a company affect the financial performance. The concluding part of this essay can be enriched with some of the valuable recommendations based on which some improvements can be made for making the tax structure of Australia efficient and productive. More taxes should be introduced for ensuring revenue generation. It will help in making Australia prosperous in terms of economic development. Some of the legal frameworks are also given for making the in-depth analysis of the subject content meaningful and contextual and name of the two legislations have been mentioned in this regards such as Fringe Benefits Tax Assessment Act of 1986 and A New Tax System (Goods and Services Tax Act) of 1999. From these two legislations, it has been cleared that the Government of Australia has tried their level best in ensuring revenue generation by imposing tax on almost eve rything. Consequently, the country has witnessed economic growth and development, which have been accelerated with efficient utilisation of Australian taxation system. Reference List Alley, C., Bentley, D. and James, S., (2014). Politics and tax reform: A comparative analysis of the implementation of a broad-based consumption tax in New Zealand, Australia and the United Kingdom. Revenue Law Journal, 24(1), p.52. Apps, P. and Rees, R., (2013). Raise top tax rates, not the GST. Austl. Tax F., 28, p.679. Baral, H., Keenan, R.J., Fox, J.C., Stork, N.E. and Kasel, S., (2013). Spatial assessment of ecosystem goods and services in complex production landscapes: a case study from south-eastern Australia. Ecological Complexity, 13, pp.35-45. Besley, T. and Persson, T., (2014). Why do developing countries tax so little?. The Journal of Economic Perspectives, 28(4), pp.99-120. Braverman, D., Marsden, S.J. and Sadiq, K., (2015). Assessing taxpayer response to legislative changes: A case study of in-housefringe benefits rules. Journal of Australian Taxation, 17(1), pp.1-52. Brody, E., Breen, O.B., McGregor-Lowndes, M. and Turnour, M., (2014). 5 An Unrelated Income Tax for Australia?. Performance Management in Nonprofit Organizations: Global Perspectives, 17, p.87. Burkhauser, R.V., Hahn, M.H. and Wilkins, R., (2015). Measuring top incomes using tax record data: A cautionary tale from Australia. The Journal of Economic Inequality, 13(2), pp.181-205. Burman, L.E., (2010). The labyrinth of capital gains tax policy: A guide for the perplexed. Washington D.C.: Brookings Institution Press. Cortis, N. and Eastman, C., (2015). Salary sacrificing in Australia: are patterns of uptake and benefit different in the notà ¢Ã¢â€š ¬Ã‚ forà ¢Ã¢â€š ¬Ã‚ profit sector?. Asia Pacific Journal of Human Resources, 53(3), pp.311-330. Eccleston, R., (2013). The Tax Reform Agenda in Australia. Australian Journal of Public Administration, 72(2), pp.103-113. Faccio, M. and Xu, J., (2015). Taxes and capital structure. Journal of Financial and Quantitative Analysis, 50(03), pp.277-300. Krever, R. and Mellor, P., (2014). Legal Interpretation of Tax Law: Australia.Legal Interpretation of Tax Law (Amsterdam: Kluwer, 2014), pp.15-45. Liu, B., Huang, A. and Freudenberg, B., (2014). The impact of the GST on mortgage pricing of Australian credit unions: An empirical analysis.Accounting Research Journal, 27(1), pp.37-51. Pearce, P. and Pinto, D., (2015). An evaluation of the case for a congestion tax in Australia. Tax Specialist, 18(4), p.146. Williams, C.C. and Martinez-Perez, A., (2014). Why do consumers purchase goods and services in the informal economy?. Journal of Business Research, 67(5), pp.802-806. Woellner, R., Barkoczy, S., Murphy, S., Evans, C. and Pinto, D.,(2016).Australian Taxation Law 2016. Oxford: Oxford University Press.