Capital Gains and Losses Research Paper Example | Topics and Well Written Essays - 2000 words

Capital Gains and Losses - Research Paper Example Other than inventory items, companies may end up in selling other assets. If the ‘other’ assets generate gains or losses, they are referred to as capital gains or capital losses (Hammer, 2013). A capital gain is, therefore, the profit realized by an investor from selling an asset at a higher price than he bought it.1 Companies may also decide to exchange assets in the absence of tax-free exchange rules. In such an exchange, capital gains or losses may be incurred. Capital gains receive a more favorable treatment compared to other types of income. According to Weltman (2011), tax law is more favorable on all incomes categorized as capital gains. Tax law also provides a special treatment for capital losses. Capital gains and losses are realized from capital assets. All property except inventory accounts receivable from the sale of inventory, depreciable property such as telephones, U.S. government publications, and real property used in the business are treated as capital assets. Most properties that one owns and uses for personal purposes or investments are considered to be capital assets. Examples of capital assets include cars, furniture, stocks, bonds, and houses. During the transfer of assets, if the amount received for the asset exceeds the adjusted basis of the property, a gain is recorded. If the amount received from the buyer is less than the adjusted basis of the property, a loss is recorded (Weltman, 2011). In order for the company to record either a capital gain or a capital loss, an exchange must occur. Though it may take hundreds of pages to define the tax code and limit what may be accounted for as capital gain or loss, the basic idea is simple. A capital gain is the increase in value of a capital asset. Cordes, Ebel & Gravelle (2007) define capital gains as the changes in value of capital assets such as real estate, business interest, or corporate stock. Gains and losses can either be

Managing Diversity Legal Case Study Example | Topics and Well Written Essays - 1500 words

Managing Diversity Legal - Case Study Example 4). In her case, Mr. Chuck and Dell can be involved as witnesses. AHRC resolves the complaints through the process of conciliation. â€Å"This is where the people involved in a complaint talk through the issues with the help of someone impartial and settle the matter on their own terms† (Australian Human Rights Commission, n.d.). The possible outcomes that Mel may expect from lodging the complaint include an apology from Mr. Con Tenshus, compensation for the lost wages, reinstatement to the job, and changes in the organizational policies. Relevant legislation and case law According to Section 7 of the Sex Discrimination Act 1984 that talks about discrimination on the basis of pregnancy, this Act applies on the discriminator if he discriminates against the aggrieved person on the basis of her pregnancy if the less favourable treatment of the aggrieved person is unreasonable under the given circumstances (comlaw.gov.au, n.d.). This Act also applies when the discriminator discrim inates against the aggrieved person because of her pregnancy by requiring her to comply with such a condition or requirement that is complied with a substantially higher proportion of people that are not pregnant, or that is unreasonable considering the case’s circumstances, or with which the aggrieved person cannot comply. One condition of the application of the Sex Discrimination Act 1984 is for the organization to have more than 6 employees (Lawlink, 2002). Since the tiny office in Broadmeadow employed 8 people at the time when Mel worked there, the Sex Discrimination Act 1984 applies on it. There are a number of shortcomings in the use and effectiveness of the Sex Discrimination Act 1984; the focus of the Act on the complaints lodged by the victims of discrimination does not help in the resolution of the systemic discrimination. The complainants have inadequate support of adequacy. There are limitations in the rights of the regulatory agencies involved in providing the pr egnant women with equal opportunity and that are responsible for the elimination of sex discrimination, that are encountered while initiating the claims and investigations of the systemic discrimination. The regulatory tools required to resolve the issues are insufficient and thus cannot provide much assistance to the organizations in the elimination of discrimination. Furthermore, the process of lodging the complaint and its advancement is time-consuming, costly, as well as overly legalistic. The enforcement provisions of the Sex Discrimination Act 1984 are insufficient with respect to the regulation’s terms as well as the extent of punitive damages imposed on the discriminator, especially in comparison to consumer protection legislation or the health and safety legislation. Strengths and Weaknesses of Mel’s Case One strength of Mel’s case is that her duty was frequently changed from doing the creditors work to doing the debtors work, although she was originall y hired to do the creditors work. Another strength of her case is that Mel informed Mr. Tenshus of her pregnancy as soon as she learnt that she was pregnant. Yet another strength of her case is that no minutes of meeting were made in either of the two meetings that she had with Mr. Tenshus, although those meetings are mentioned in Mr. Tenshus’