Assignment Task
Task
Fred, a single 40-year-old employed lawyer for a large Australian commercial law firm, received a salary of $100,000 from his firm’s Sydney office for the first six months of the tax year ended 30 June 2021. Because of lockdowns imposed as a result of the COVID pandemic, Fred’s firm agreed for Fred to establish a ‘home office’ from the beginning of the tax year. Fred lived in Cremorne Point in Sydney, and his residence (a home unit) consisted of three bedrooms, one bathroom, one loungeroom and a kitchen. In addition, there was a loft space in the roof that Fred had cordoned off to be his home office space. Fred bought some basic office furniture to furnish the space, including a desk ($150), chair ($80), lamp ($30), filing cabinet ($300), printer ($100) and general office supplies ($100). All of these Home Office furniture amounts included GST. Fred did not instal any signage to suggest from the street front that his office was inside, and he continued to use the laptop and mobile phone provided by his employer. No clients or colleagues physically visited the home or home office, and there was no available space for client car parking. However, Fred would have up to six online Zoom meetings each working day, and sometimes on the weekend. Fred worked from home five days each week to achieve a 40-hour week. He used the office space for his employment only and no personal effects were stored in the room, except for a piano that remained in one corner, leaving the home office space a little cramped. During the first six months of 2020/2021, Fred caught the ferry to and from his workplace in the CBD once a week for weekly practice strategy meetings, at a cost of $30 per week. During this period, in addition to his salary, Fred also received the following amounts (all in AUD):
a) $1500 in tips and gratuities from clients for ‘doing a great job.’ This amount comprised $700 in cash, and $800 in kind (in the form of whiskey decanters, glasses, expensive whiskies and cigars);
(b) $1,000 in bank interest;
(c) $10,000 in winnings from gambling at the races (as well as a $7,000 loss on the Melbourne Cup race – but Fred is trying to forget that); and
(d) A $5,000 gold watch for winning the Lawyers’ Cup, a tennis tournament held every year between staff from the Top Six law firms in Australia.
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