Analysis Of The book Of Men an Mice by John Steinbeck - Free Essay Example

Sample details Pages: 6 Words: 1895 Downloads: 8 Date added: 2019/06/12 Category Literature Essay Level High school Tags: Of Mice And Men Essay Did you like this example? The book is about two migrant field workers in Salinas California during the Great Depression. The two characters I will tell about are George Milton, a smart man with a quick mind who can handle any situation that he comes up against him and his associate Lenny Small, who is a very large man, who doesnt realize his own strength and he is mentally disabled. He thinks like a child, asks lot of questions and forgets everything accept his love for bunnies and having a home for them. Don’t waste time! Our writers will create an original "Analysis Of The book Of Men an Mice by John Steinbeck" essay for you Create order The two get pared up as his aunt who raised him is dying and she gets George to take care of him before she dies. About George Milton: I heard about a work opportunity and I knew we would have to outdo everyone to get on in these hard times and I am just the man to do This! Days are hard and long but I push forward, get two work cards, two bus tickets and were off! Itrs so frustrating that I have to keep repeating where were going and what were doing as Lennyrs short term memory is gone, yet somehow he remembers our plan, our dream. The dream for him is taking care of the rabbits, for me it is so much more. A couple acres, a homestead, planting my own crops, going to the show, living off the fat of the land. These are hard times, but not for me because I am a man with a plan. Arriving a day late as the bus driver tricked me saying this was the last stop because he didnt want to drive out to the job site. We spent the night almost there by the river side, I told Lenny if you ever get in trouble you come back here and wait for me, staythereuntil I come for you, understand? How I hoped that he would understand. Today as we are walking in, I know I am going to have to impress the boss man to take us on. Hers apprehensive but as I prove to him that Im the brains and Lennyrs strength is limitless, were in. In the back of my mind I am worried as we got ran out off the last town because Lenny loves soft things and as he got overly excited touching a bar maids dress, he was up for attempted rape, barely escaping were here now, on the job and I am actually working 24 hours a day looking after this man. Why did I take this man on, plays over and over with my mind. Why did I promise the ole lady to take care of him? Everyone has a story. Candy, the bosses secretary, disabled with no use of one arm is here with his awesome very old dog, just grateful to have a job and lives with us in the bunk house. Curley, the owners son, a wimp of a man whors angry at life. His wife Mae, a sleazy lady at best, whors quickly going crazy from not friends, shers the only lady, and no attention from anyone, even her husbandrhave to ask myself, what kind of of a trap have I set for myself? At times I almost envied Lenny, he really didnt have a care in the world especially with me always giving him hope with our dream, where will my hope come from? Well for Lenny his life got brighter as Slim, the foreman had a batch of puppyrs and he loves soft things, but to much love can cause them death. Well to bribe him to work faster to guarantee our jobs I allowed him to have a puppy. More responsibility for me, but job security too. One night I came in after Candys old dog had to been put down by Carlson and Lenny invited him to come with us, on our dream. I wouldnt have given it a thought except he had two hundred fifty dollars cash and promise to put in all his accrued earnings too. All of a sudden I had a sense of reaching my goal, so I agreed! I set aside money and was sending off our deposit to the owners. Days are getting longer and my dreams getting closer and the next thing I know Curley is down here in the barn, crazy jealous looking for his wife again, accusing Slim of being with her, and Lennyrs laughs, not because itrs funny but he knew she was just there to see her puppy which Curley made her giveback because it was from another man. He went into a rage and started beating Lenny who was begging me to help him but couldnt help him. I told him to fight back, hit him, push him away and finally he caught his hand and crushed it until he fell unconsciously to the dirt. My minds working overtime for what to do, SlimI comes up with a plan to save all our jobs and Curley his relationship with his father and wife. It was an accident, his hand got got in a machine, end of story. We all took an oath to silence that night. Finally a night of fun and to forget the hell I live in here, we are going to the Saloon, therers friendly girls, booze etc. only to realize I cant even enjoy that, concerned about Lenny, whatrs he Doing? I return home only to find Lennyrs not in bed a sleep, I look around and I hear men talking and there it is Lennyrs voice hers in there with Crooks, the black cook who lives all alone in the shack right outside the dung heep. Hers been talking, hers talking to much, telling about our plans asking about his dreams, to many questions to much talk. Then Caddy shows up, going over the figures and the plans. I come back only to find the three men singing and Lenny with a cigar I his mouth. Now I have too deal with another guy and in walks Mae, Curleyrs wife asking questions about who beat up Curley up. While she tryrs to intimidate Lenny, i had enough and almost punched her Now another day has come, itrs our horse shoe game, a time to forget this sorry place, to have some fun. We were all at the tournament until Caddy goes to feed the puppyrs and picks his out and goes to see Slim, I was there and I smiled I told him, itrs good for a man to have a dog. Just then I realized we needed to find Lenny but instead we found Mae dead on the floor in the barn. Cold chills run through every bone, I have to stop this at all cost. Curley arrives angry and mad, but now this changes his lies too, he calls all the men together to find Lenny and there going to kilt him, to go out and gun down Lenny. Mean while Slim joins me, I show him the gun, my heart sinks my gut is unbearable, I know I must peacefully put Lenny down, just like a dog, so he wont suffer. I go to where I knew he would be, I find him and begin to tell him our story. While in my heart I realize there is no escaping for either of us, I am forever here and he needs to be set free from this life. As I describe our place, the calm river and his rabbits, I pull the trigger and shoot him in the back of his head. He falls to the ground and at this moment i feel as if I am dead too. I give the gun to the sherif and we all realize this life is our the end. About Lenny Smalls: I like George, hers my best friend. Were always going somewhere cause I always get in trouble. Now were on a bus ride going to Ranch#3? George got tickets in San Francisco for us to go. I had my ticket in my pocket but now George has it? The bus driver dont like us so he dropped us off too soon, we walk and walk until George says itrs supper times and we have beans, I want ketchup on my beans, but George says, No ketchup why do I like ketchup? Before we go to sleep George told me to remember this place if I get in trouble and come here and wait for him so I promised I will. Why do bad things happen to me? Why do I like small soft things? Why cant I just live on the top of a hill and layin the sun with my dead bird? Why? I like it when George tells me our story, I can almost say it myself but I like it better when George tells it, it seems so real, I can see it in my eyes. We have each other. I take care of George, he takes care of me. We have cows, food and lots of rabbits, all different color ones too. George is happy when I dont talk and Im happy when George is happy. Were at Ranch #3the boss is mad were late, his friend has one good arm and an old dog. They want me talk but George doesnt want me too. No ones nice here until George shows them how strong I am, so we can stay. We go to the barn, they got puppies there, George says maybe I can have one if I dont get in trouble and work hard. The owners son come in, he keeps bugging me, I dont know why? George says he dont like big guys, for me not to talk to him or his wife and thatrs hard cause shers pretty. Sometimes George goes with the guys I have to stay home and sleep. I dont want to sleep, I see the cooks light on and go there. He said, why did you come here? I said , your light was on we talked and talked I asked why he didnt go with the boys and he said cause hers black? I told him I couldnt go because George said so. Then Candy came by writing numbers about our place and now Crooks wants to come too. The next thing I know George is here, hers mad at me tells everyone to go to bed, hers mad at me but Ill go to bed. Another night and the men all go playing horse shoes. I sneak to-see my puppy, were playing and he bites me, so I hit him and hers dead. As I hold him quietly crying Mae comes in to see he pup, I tell her what happened and she said it dont matter because hers a runt. Then she tells me to touch her hair because itrs soft. I love her hair but I mess it up and she screams and I break her and run away, just like George said. I wait and wait and George comes, then I hear all the men, George says there going hunting, I want to go hunting but George says we cant go and he sits me down and tells me the story of our new home, I can almost see it with my eyes and then

De Beauvoirs “Woman as Other” - 1394 Words

â€Å"Woman as Other† De Beauvoir’s â€Å"Woman as Other† lays out an elaborate argument on gender inequality; using the term â€Å"other† to establish woman’s alternate, lesser important role throughout her work, the author dissects and examines from its origin the female’s secondary position in society in contrast to man. Indeed, from the beginning of recorded history, the duality of man, by definition, positions woman at the opposing end of the spectrum in relation to her male counterpart. Even by today’s modern and accepting standards, the female suffers under the brand of being the sub-standard half of the duality equation; compared to her male opponent, women are paid lower wages, have fewer and limited expression of rights, achieve lower†¦show more content†¦Consequently, this has potential implications for the investment on the next generation; if parents view daughters as less likely to earn market wages or take paid work, they may be less incli ned to invest in their education, which is woman’s fastest route out of poverty. Also, in a job market dominated by men who monopolize the most important positions, the male faction generally retains the opportunities for success, for advancement or for higher wages. In fact, a recent class action lawsuit filed on behalf of 1.6 million women employed by Wal-Mart stores alleges the retailer’s sexual discrimination has led to women losing out on pay, promotions and other advances; women are paid less than men in every department of the store. According to the study named in the lawsuit, two-thirds of Wal-Mart’s employees are female and less than one-third of its managers are female Until recently, social development, by design has guaranteed women limited growth in the employment ranks by the standard curriculum path recommended for the female gender; typical high school and junior colleges required home economics and other domestic-related courses to be completed by female students. Thus, the woman high school or junior college graduate enters the world without adequate training to compete in the business world beyond basic trade or â€Å"blue collar† worker positions. Finally, aShow MoreRelatedMy Becoming A Man By Simone De Beauvoir877 Words   |  4 PagesSimone de Beauvoir asserts that â€Å"one is not born, but, rather, becomes a woman (Bailey, Alison, and Cuomo 97).† In this analytical paper, I will attempt to relate to this to my â€Å"becoming a man,† as well as comparing and contrasting this claim with other feminist philosophers’ ideas. Also, I will try to explain how de Beauvoir’s ideas are beneficial to society and to individual people. From birth to the first day in school, children seem to be concerned with food, love, and rest. From first gradeRead MoreAnalysis Of The Second Sex By Simone De Beauvoir1679 Words   |  7 PagesSimone de Beauvoir’s The Second Sex is an essential text for feminist writing, and constructs the foundation for the inclusion of transgendered and queer women in feminist ideology and epistemology through the use of non-biological definitions, anti-categorical ambitions, and anti-socially normative language. A distinctive and poignant characteristic of de Beauvoir’s work is the intrinsic absence of definition through biological terminology. De Beauvoir attempts to avoid categorizing all women throughRead MoreSimone De Beauvoir s View Of A Woman, Black And White, Jew And Gentile1463 Words   |  6 PagesIn my opinion, Simone de Beauvoir’s quote stressed that using specific characteristics to define certain groups of people was a dangerous practice. To me, Beauvoirâ€⠄¢s model of identity is one of great diversity. When reading her work, it was evident that she thinks that all humans are multi-faceted, and should not be defined by one certain characteristic. Beauvoir believed there was no one way to be a woman, a person of color, or a Jew. Each group exhibits an array of qualities that make up individualsRead MoreThe Second Sex By Simone De Beauvoir1283 Words   |  6 PagesWomen are objectified Others. The Second Sex written by Simone de Beauvoir explores the oppression of women forced into the role of an object, while men are the subject. In the second chapter â€Å"The Girl†, de Beauvoir studies the idea of this oppression during the transition from a girl to a woman. She coins the term of the Other to explain the phenomenon of female inessentiality and persecution. The Other is an opponent of a female’s sovereignty and limits freedoms. Simone De Beauvoir expounds a girl’sRead MoreJean Paul Sartre s Being And Nothingness 1527 Words   |  7 Pagesonly create our values, we create ourselves. Simone De Beauvoir, for instance, creates a limit to this existential idea of self-creation, qualifying absolute liberty - an idea that is recurring in Jean-Paul Sartre’s Being and Nothingness. In opposition to this, de Beauvoir presents an ambiguous image of human liberty, in which women fight against the apparent inconveniences of the female figure. In The Second Sex, her most famous chef-d’oeuvre, de Beauvoir sketches an existential story of a woman’sRead MoreThe Second Sex!1578 Words   |  7 PagesSex, Simone de Beauvoir discusses the role of women as being oppressed in the views of men who characterize women as â€Å"the other,† a very dehumanizing theory. For ever subject, there must be an object, â€Å"[A]t the moment when man asserts himself as subject and free being, the idea of the Other arises,† de Beauvoir states. She also says, â€Å"that while it is natural for humans to understand themselves in opposition to others, this process is flawed when applied to the genders. In defining woman exclusivelyRead MoreSimone de Beauvoir: the Woman in Love Essay1457 Words   |  6 PagesHow does she think the problems of love can be rectified? Simone de Beauvoirs text The Woman in Love, taken from her book The Second Sex (1988) describes her theories on men and women in love. This essay will explore her propositions about the differences men and women experience in love, look at her ideas of authentic and inauthentic love, and how she proposes for the differences and problems of love to be dealt with. De Beauvoir published her work in 1988, and with this context in mindRead MoreReflective Assessment : Being That I Am A Sociology Major1470 Words   |  6 Pagesis discussing sex and gender because gender is relational; it concerns both women and men. Primarily, I will discuss Judith Butlers ‘performativity’ and explain how females and males gendered roles are performed naturally. Furthermore, Simone de Beauvoir’s novel, The Second Sex hugely became an influential book, which involves sexuality, family, workplace, and reproductive rights and she distinguishes sex and gender and states that gender is grad ually acquired. Lastly, I will discuss Germaine Greer’sRead MoreSimone de Beauvoir1629 Words   |  7 PagesA lot of things happened in Simone de Beauvoirs life, most having to do with women and the way they were treated. She was a very observant person, and her writing reflects that. Simone de Beauvoirs writings attempted to deal on paper with the vast emotions conjured by her life experiences, particularly women she knew who were assassinated by bourgeois morality. (Simone) Simone de Beauvoir was born in Paris, France on January 9, 1908. She was raised by a Catholic mother from Verdun, and a fatherRead MoreAnalysis Of Simone De Beauvoir s The Girl1225 Words   |  5 Pagesdominated society. Simone de Beauvoir’s philosophical work, The Second Sex, echoes the intense oppression of women and reflects the first wave feminist movement. Her existentialist decoding of genders resulted in the idea of the Other, which explores the phenomenon of women forced into the role of an object, while men are the subject. In the second chapter, â€Å"The Girl†, Beauvoir further studies the idea of this oppression during one’s transition from a girl into a woman. Beauvoir states that no matter

Milton Friedman’s Influence on Macroeconomics Free Essays

INTRODUCTION: Milton Friedman was an American economist as well as being a public intellectual. He was born in 1912 and died at the age of 94 in 2006. He was an ardent advocate of economic freedom as well as personal liberty. We will write a custom essay sample on Milton Friedman’s Influence on Macroeconomics or any similar topic only for you Order Now Before his death Friedman was one of the most influential scholars and figures of authority in the fields of microeconomics, statistics, and economic history as well as the field of macroeconomics, which happens to be the field of study. THESIS STATEMENT: Milton Friedman, although unfortunately bereaved, was one of the most influential economics of all time. Many economists as well as economies big and small have adapted to the teachings of Friedman. Why has this been so? In trying to analyze this paper, I will look at some of the major contributions of Friedman to the field of macroeconomics. ANALYSIS: Macroeconomics is a sub-discipline in the field of economics. It concerns it self with the structure, performance and the behaviors of national economies. It seeks to find out the determinants of the aggregate movements within the economy. Macroeconomics gives specific attention to inflation, unemployment, international trade, investments and the national income. On the other hand, Microeconomics is the branch of economics that concerns itself with the processes that firm’s, households and individuals concerns themselves in allocating limited resources. In this sense microeconomics scrutinizes how these decisions affect the demand and supply schedules and helps determine not only the prices but also how these prices influence the supply and demand of goods and services in any given market segment. Macroeconomics is generally divided in to two major areas of study; the business cycle   which concerns itself mainly with the consequences and causes of the of short term fluctuations in national income and the determinants of the long run economic growth (increases in the national income). As thus, the field of macroeconomics is of paramount importance in designing, developing and evaluating strategies and policies not only for governments but also for large corporations like Sony and Toyota. Macroeconomics concerns itself with economic aggregates of the nation’s economic activities. On this field, macroeconomics concerns itself with issues of government actions (spending and taxation), issues of unemployment, inflation as well as general economic policies. CONCERNING FRIEDMAN: Friedman for a long time worked in isolation. Until the late 70s, many scholars especially in the field of economics met Friedman’s work with a lot of hostility. Milton Friedman was an ardent opponent to the Keynesian economics; Milton led the â€Å"Monetarist school† commonly referred to the Chicago School against the Keynesian school of economics. Friedman’s contributions include the â€Å"Permanent Income Hypothesis† on consumption (1957), in addition to this there was the formulation of risk-aversion and risk-proclivity (1948); he was also influential through his evolutionary theory on the theory of the firm,  Ã‚   including his own propositions for a â€Å"positivist† methodology in economics (1953). Friedman was key influential in macroeconomics especially in attacking the Keynesians on their view of the IS-LM analysis. In this attack, Friedman wanted the Keynesians not to ignore money matters in their analysis.  He was critical in pinpointing the importance of a laissez-faire economy, but he still held the proposition that concrete policies need to be operational within the economy for there to be harmony in the economy. In essence, the works and teachings of Friedman came to be an influential part of modern economics especially after the Keynesian analysis failed to offer a solution to the 1970s crisis because of the prevalent cost-push inflation and the inability of Keynesians to offer a solution to the increasing wages and prices.  Friedman scathingly attacked the Keynesians for failing to debate or offer directions on the need for competitive markets, this Friedman said was the reason why there had emerged larger monopolies within the 50s and the 60s which led to the ensuing stagflation. In addition to this, Friedman together with other scholars from the Chicago school provided evidence to prove that within competitive markets the price system could effectively and efficiently to allocate scarce resources. In his own words, Friedman claimed that the price system plays the following roles: firstly, the price system provides incentives for the adoption of the least costly methods of production. The price system also helps in   using available resources for the best use available, in addition the price system is used to transmit information on production, available resources and tastes, on top of this the prices can be used to determine the distribution system â€Å"who gets what when and how†. Friedman was also influential in designing test theories. On this issue, Friedman held the opinion that economists should only invoke the predictive ability of the theory and not the descriptive realism of the theory. Friedman was also influential in proposing that governments use countercyclical budget policies. CASE ANALYSIS: JAPANS MACROECONOMIC POLICIES: Japan is the world’s second largest economy from the United States. It is a market economy just like the United States although geographically it is very small. Japan is an industrial state although it relies mainly on imported raw materials for its industries. As thus, Japan is highly dependent on the nature of international trade and this means that Freidman’s analysis of price theories, inflation and free trade has a huge impact within the Japanese macroeconomic policies. Within Japan, the economy has followed the teachings of Friedman in the following ways. Firstly, the country has realized the importance of laissez faire economics. For this reason, given that the country relies mostly on imported raw materials for its industries have, been one of the major advocate’s free trade. This has been commissioned in many ways including being one of the influential members of the world trade organization.  Secondly, the country has adopted Friedman’s teachings in the way the country designs its fiscal policy; this has been done mainly by changing the composition of public spending instead of expanding it. Thirdly, the countries central bank, the bank of Japan has also followed Friedman’s rules in inflation targeting and interest rate benchmarking.  In addition to these, the Japanese cabinet especially in recent years has been very vocal in trying to push for structural reforms as well as the adoption of stringent business policies especially in the financial sector that has been affected by banking crisis for a very long time. Concerning the activities of the bank of Japan, it is important to note that for a long time now the bank has been steadily increasing the money supply. This is intended to contain inflation as well as being a way of supporting the fiscal policy. In addition to this, the Japanese economy has been under a condition of a liquidity trap.  Ã‚  According to the monetarist theory, mainly influenced by Milton Friedman, a country would most likely move out of a liquidity trap by turning to the printing press or increasing the money supply. In order for Japan to move out of the liquidity trap, the bank of Japan has resulted to the printing press as well as the purchase of Japanese government’s treasury bonds. These are all monetarist activities and they go on to show us how the Japanese economy has gone in line with the teachings of Milton Friedman. CRITICISMS: Although Friedman was very influential on the field of macroeconomics, very many different schools of thought have criticized, or have held different views from those of Friedman. These include the Marxists, the Keynesians and neo-Keynesians. The Keynesians and neo-Keynesians advocate for a mixed economy. In this view, they consider an equally important role to be played by both the private sector and the government. . Thus Keynes believed that the government was responsible for not only helping the economy rise out of a depression by increasing aggregate spending but also it could increase general levels of investments by pumping more money into the economy, then the citizens are encouraged to spend more because more money is in circulation.   Once this is done then People will start to invest more, and the economy will react by increasing productive ventures. Thus, Keynes argued that government investment in public goods that will not be provided for by the market would encourage the private sector’s growth. This would include government spending on such things as basic research, public health, education, and infrastructure.  On the other side, the Marxists beliefs in a social state where neither the government nor the market takes control. Karl Marx believed that the state was a manifestation of the ruling class, in many instances he claimed, that the ruling class was the bourgeoisie (owners of the means of production). Whose aim was self-enrichment under such a state developments of either the infrastructure or education would be done if it were to their benefit and not to the benefit of the workers (Proletariat). CONCLUSION: The works of Milton Friedman will continue to hold the field of economics for a long time to come, especially in these days of globalization and increasing interdependence of states. REFERENCES: Hadjimichalakis M. (1982) Modern Economics, Prentice Hall Publishers, New Jersey H. Stratton (1999) Economics: A New Introduction, Pluto Press, USA Martin U. (1976) Agricultural Production Economics and Resources Used, Oxford University Press, Oxford Paul Anthony Samuelson (1964) Economics, McGraw-Hill publishers, USA Thomas A. and Paschal Francis (1995) Beyond Rhetoric and Realism in Economics: Towards a reformulation of economic methodology, Rout ledge, UK  Ian Livingstone (1970) Economics and Development: an introduction, Oxford University Press, Oxford Jay M. Shafritz, Philip H. Whitbeck (1978), Classics of Organization Theory, Moore Pub Co, (Original from the University of Michigan). How to cite Milton Friedman’s Influence on Macroeconomics, Essay examples

Seminars Conferences Education Workshops â€Myassignmenthelp.Com

Question: Discuss About The Seminars Conferences Education Workshops? Answer: Introducation The various transactions have been discussed as follows with a view of determining their impact on the assessable income for the taxpayer (Charlotte). Assessable income Deductions The aim is to highlight the assessable income that Charlotte derives under taxation ambit of s. 6(5), ITAA 1997 that tends to deal with income based on ordinary concepts[1]. Annual assessable income from working as a lecturer = $ 90,000 Further, based on the verdict of the Thomas v FC of T[2]case, it is appropriate that house would not be considered as a place of business but rather would be limited to only the private study[3], The various expenses that can be considered as deductions under s. 8(1) are as follows[4]. Rent expenses to the extent of the area used for this purpose Running expenses which relate with electricity along with heating and cooling costs. Any decline in value of the depreciating assets can also be claimed. Under s.25(10), home repairs to the part occupied for work or assessable income production would also be deductible[5]. In line with the above discussion, the following deduction may be claimed. Occupancy related expenses (according to floor area) = (10/100)*31200 = $ 3,120 Running expenses (electricity as per floor area) = (10/100)*2000 = $ 200 Depreciation for FY2016 = 3100*0.4 = $ 1,240 Depreciation for FY2017 = (3100-1240)*0.4 = $ 744 Decline in value available for deduction[6] = 0.7*744 = $ 520.8 Deduction for repairs (internet wireless card)[7] = 0.7*180 = $ 126 Deduction for public transport[8] (s. 8(1) ITAA 1997) = $ 850 Deduction for seminar would not be available as it would not be used to generate assessable income[9]. It is known that Charlotte attended the seminar so as to cater to her personal agenda. Deduction is not available for premium of income protection insurance which protects the income is case of physical injury[10]. Hence, the premium paid for the same would not be considered deductible. Thus, net assessable income = 90000 (3120 + 200 + 520.8 + 126 + 850) = $ 85,183.2 Sale of share portfolio The intent is to determine any assessable income that would potentially arise on the basis of share sale. As per s. 6(5), ITAA 1997, dividend income is one of the components of ordinary income and would contribute to assessable income. However, whenever there is a disposal of a CGT asset, the capital gains or loss do arise and the same need to be accounted for. For the computation of the same, the cost base of the asset in accordance with s. 110-25 needs to be computed[11]. The cost base of an asset contains elements over and above the acquisition cost particularly related to financing of the asset, maintaining title and incidental costs related to selling and buying of asset. Also, as per s. 115-25, the discount method can be deployed for computation of capital gains only when these are long term in nature[12]. Purchasing price of the share (April 1, 2006) = $ 16,000 Total interest cost incurred with borrowing for the shares = $ 3,000 Incidental costs related to share sale = $ 500 Total cost base of shares = 16000 + 3000 + 500 = $ 19,500 Selling price of the share (April 1, 2017) = $ 20,000 Hence, capital gains on sale of share = 20,000 19,500 = $ 500 Outstanding capital losses from share sale (FY2016) = $3,000 Therefore, net capital gains on the share sale would be zero with a pending capital loss of $2,500. Hence, contribution to assessable income would be only in the form of dividend income in FY2017 which amounts to $ 800 (ignoring the impact of franking credits)[13]. Thus, it may be concluded that the share sale has resulted in contribution of $ 800 to the assessable income. Sale of Painting The objective is to determine if any capital gains/(losses) are made on the sale of the painting. Painting in accordance with s.108-10(2) is defined under the broad category of collectibles. Capital gains that arise from the sale of any collectible would be realisable only if the buying price is greater than $ 500[14]. Also, capital loss that arise from sale or disposal of collectible would be adjusted only against corresponding capital gains arising from collectible sale only as per s. 108(1)[15]. Buying price of the painting (FY2017) = $ 3,000 Selling price of the painting (FY2017) = $ 2,000 Also, there would be adjustment in the cost base since no additional cost incurred in buying or selling, hence the cost base would essentially constitute of the purchase price only. Hence, capital gains/(losses) = 2000 3000 = -$1,000 Thus, it may be concluded that a capital loss of $1,000 would be carry forwarded to the next year i.e. FY2018 so that it can be offset against gains from sale of collectible items. Hence, the sale of painting has no contribution to assessable income. Sale of inherited mothers property The capital gains implication of the sale of inherited house needs to be determined. A critical aspect to note is that death of the owner is not considered a CGT event and hence on accounting of the death, no capital gains or losses need to be computed. Further, when a house is passed on which had served as the main residence for the deceased from the time of construction, then the CGT treatment at the hand of beneficiary would essentially depend on the date of inheritance and property purchase and certain other conditions. Considering the given information, a particular situation is being applied. For any dwelling that is purchased after September 20,1985 and passed on after August 20, 1996, then no CGT implications would arise if both the following conditions are satisfied[16]. Either the dwelling is disposed off within a period of two years from the date of inheritance or it serves as the main residence during the period of residence Just before the death of the person deceased, the house was serving as the main residence and was not being used for deriving any income. It is apparent based on the given facts that the house has been inherited by Charlotte from her mother who died on August 1, 2016. The property was purchased by her mother on August 1, 2005 and from that day onwards, the house continued to serve as the main residence. This dwelling was passed on to Charlotte officially on October 1, 2016. Further exactly after two months i.e. December 1, 2016, the house was sold. Hence, it is apparent that all the conditions are fulfilled as mentioned below. The house has been purchased after September 20, 1985 The house has been transferred to Charlotte after August 20, 1996. It served as main residence of the deceased from the time of purchase to the time of her mothers death. Also, it was disposed within 2 years of taking possession by Charlotte. Thus, no capital gains or losses would be booked on the sale of the house by Charlotte. Sale of block of land The objective is to determine if any capital gains have been derived on the sale of the land to her son. Cost price of the land (July 1, 2016) = $100,000 Interest paid on the amount borrowed to make the purchase = $6,000 Hence, cost base of the land (s. 110-25) = 100000 + 6000 = $ 106,000 Selling price of land = $ 100 Section 116-30, ITAA 1997 is relevant here as it outlines that the selling price which is considered for computation of capital gains would be always the value which is higher between the selling price and the market value[17]. Hence, for computation of capital gains, the market value of land on the date of sale i.e. $ 120,000 would be considered. Thus, capital gains = 120,000 106,000 = $ 14,000 Net capital gains (after offsetting pending capital losses) = 14000 2500 = $ 11,500 The above capital gains would be considered in FY2017 only since the agreement for sale was signed on June 30, 2017. Also, the discount method cannot be applied to lower capital gains liability on account of the holding period not being greater than 1 year. Thus, taxable capital gains for Charlotte on account of the land sale to her son amounts to $11,500. Lottery Earnings The winnings from lottery are not subject to personal income tax since there is no skill involved in the same and it is essentially driven by chance[18]. This is in line with the commentary forwarded in IT 2584 and also Coleman v Commissioner of Taxation[19] [1999] AAT 249. Thus, the winnings at the Aussie Big Lotto would not contribute to the assessable income. References Taxable Income Computation Net taxable income arising from lecturing = $ 85,183.2 Dividend (without considering franking credits) =$ 800 Total capital gains = $ 11,500 Hence, total taxable income for Charlotte for the year FY2017 = 85,183.2+800+11500 = $ 97,483.2 Sale of share portfolioeral/Capital-gains-tax/Deceased-estates-and-inheritances/Inherited-dwellings/CGT-exemptions-for-inherited-dwellings/ ATO, income Protection Insurance, ATO https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Other-deductions/Income-protection-insurance/ ATO, Seminars, conferences and education workshops, ATO https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Other-deductions/Seminars,-conferences-and-education-workshops/ ATO, Taxation Ruling IT 2584, ATO https://law.ato.gov.au/atolaw/view.htm?rank=findcriteria=AND~lotto~basic~exacttarget=EAstyle=javasdocid=ITR/IT2584/NAT/ATO/00001recStart=1recnum=11tot=12pn=ALL:::ALL%22 Barkoczy, operations, Foundation of Taxation Law 2015, (North Ryde, CCH, 2015) Deutsch, Robert, et. al., Australian tax handbook. (Pymont, Thomson Reuters, 2015) Gilders, Frank, et. al., Understanding taxation law 2015. (LexisNexis, Butterworths 2015) Sadiq, Kerrie, et. al., Principles of Taxation Law 2015, (Pymont,Thomson Reuters, 2015)