Assignment Task


Task: Prepare a written advice responding to the Client Instructions below on mock letterhead. An example of a letter of advice to a client has been posted on Canvas, and you should adopt the format of the example in your own letter. 
Word limit: Students must record an accurate word count on the title page of the assignment; approximate counts will not be accepted. Students who exceed the upper word limit by more than 10% may be penalised. Students may use in-text referencing to authority rather than footnotes for this exercise. No bibliography is required for this exercise. 
Presentation: Assignments must be presented in 12 point Arial font, and have adequately spaced paragraphs and numbered pages. 

Client Instructions
Don Orr is an elderly retiree who has been living in an aged care home since he had a fall in January 2019. He is the registered owner of a house in St Ives, worth about $4 million, and his daughter Betty is presently living in the home. In 2019, when Don first took up residence in the aged care home, he said to Betty, ‘I won’t need my big house any more so it is all yours now’. Betty asked him to transfer title of the house to her, but Don said that he did not want to pay stamp duty on the transfer, so he took no steps to transfer title. Betty has paid the council rates on the property, and has spent about $20,000 on essential repairs to the house, since she moved into the house in February 2019. 
Don also has a son, Frank, who is a property developer. In November 2020, Frank visited Don in the aged care home. Frank told Don that he was in desperate need of some short term finance to complete a project, but the lender would not release any funds unless Frank could provide a guarantor for the loan. Frank said to Don: ‘It is only for $100,000, Dad. I will be able to repay the loan when the project is completed, by the end of this year.’ Frank presented Don with a document naming 
Ready Finance Pty Ltd as the party to whom the guarantee was given. Don signed the document without reading it, and Frank witnessed Don’s signature himself. In February 2021, Don received a letter of demand from Ready Finance Pty Ltd, requiring him to pay a sum of $600,000, on the basis that Frank had defaulted on his loan. 
Don also has a grandchild, Lee (child of Frank). Lee is a university student with no income, so Don decided that the most tax effective way to help Lee with fees and living expenses was to assign to Lee the income from some of Don’s investments. Don held a large parcel of Megabank Ltd shares. Don gave Lee a signed note saying ‘I, Don Orr, hereby assign to you, Lee Orr, the dividends on my whole parcel of Megabank Ltd shares.’ 



This Accounting Assignment has been solved by our Accounting Experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment Experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.

  • Uploaded By : admin
  • Posted on : April 05th, 2019
  • Downloads : 0

Whatsapp Tap to ChatGet instant assistance