HA3021 Individual Assignment T XXXXXXXXXXPART 2.docx HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assignment Question ● NOTE: This is Part 2 of the Individual Assignment in HA3021. You must have read...

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HA3021 Individual Assignment T XXXXXXXXXXPART 2.docx
HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
Assignment Question
● NOTE: This is Part 2 of the Individual Assignment in HA3021. You must have read Part 1 of the assignment
and submitted the Assignment Plan before doing Part 2 of the assignment.
● There will be four (4) questions in total, which will be released progressively and must be
answered according to the following schedule
o Questions 1 and 2: released at the end of Week 2. Answers must be submitted in the
Answer Plan.
o Question 3: will be released at the end of Week 5. Answers to Questions 1, 2 and 3
must be submitted in the Assignment Draft.
o Question 4: will be released at the end of Week 7. Answers to Answers to Questions
1, 2, 3 and 4 must be submitted in the Final Assignment.
● Read Question 3 below on Business Structures and plan your answers.
● Using the Answer Plan you have already submitted, prepare the draft of your assignment, which
must include the answers to Questions 1, 2 and 3.
● Follow the word counts specified for each individual component of the individual assignment.
● A minimum of 6 genuine and relevant Australian legal references are required for the Draft and
Final Versions of the Individual Assignment. Examples of relevant references include the
Corporations Act 2001 (Cth); the Australian and Securities and Investment Commission’s (ASIC)
website (www.asic.gov.au), the website of the Australian Business Register’s (ABR) website
(www.abr.gov.au).
● The full citations for all sources cited in your answer must be listed in a Reference list at the end
of your answer.
● In addition, any online sources cited in your answer and listed in your Reference List must
include a valid hyperlink that allows access to the full text of the source.
Congratulations! You have secured a graduate position with a large firm of corporate
advisers. Hannah Finley, a partner in the practice, asks you to attend an 10:00 a.m.
meeting
on Monday with herself and Russel Robbins, a longstanding client of the firm. You will be
required to take notes and prepare answers to Russel ’s queries.
Russel Robbins is married to Megan Mays. They have one child, Ellie, who attends a local
private school. Russel is very entrepreneurial and has been running a second-hand and
HA3021 Corporations Law Individual Assignment T1 2021
http://www.asic.gov.au
Page 2 of 5
vintage clothing business in Albury, NSW, by himself as a sole trader for the past five years
under the business name of Pinnaclewear. A lot of Russel’s customers are other
businesses, both local and overseas. Turnover was $285,000 in the first year and has now
grown to over $3 million per annum.
The business operates from rented premises, but Russel would prefer to buy a building.
Currently, Pinnaclewear employs eight staff. Russel has plans to expand the business
further. He also wants to diversify into food and catering in the near to medium term.
Russel’s mother, Violet, is a retired accountant and he regularly asks her for advice. Violet
suggested recently that Russel should structure his business as a company. Russel is
unsure about this. He makes an appointment to see Hannah
Prior to the meeting, you review Russel ’s file and note that he and Megan have the
following assets.
● A family home in Wodonga with a market value of $1.25 million. There is a mortgage
on the property of $561,000. The house is owned by Megan. The house was
previously owned by Russel and Megan , but when Russel started up his business,
it was decided to transfer the house solely to Megan for asset protection reasons.
● A share portfolio. Russel and Megan jointly own 1000 Telstra shares, which cost
them $3.30 per share, and 500 Commonwealth Bank shares, which they bought
when they first married. The Commonwealth Bank shares cost them $10.90 per
share. The Telstra shares are currently worth $3.09 per share and the
Commonwealth Bank shares are worth $61.00 per share. The shares are intended
as an investment for Ellie — they will be given to her when she turns 21. Russel and
Megan also jointly own a portfolio of blue chip Australian shares currently valued at
$145,957.
● Two motor vehicles. Megan owns a BMW Series 7 worth $ XXXXXXXXXXRussel owns a
VW Transporter Van worth $18,000, which he uses for the business.
● Office furniture and equipment. During the course of the year, Russel bought
computers, desks, other office furniture and shelving for the business which cost him
approximately $ XXXXXXXXXXTheir current value in the financial accounts is $8,650.
● Superannuation. Russel has $190,568 in superannuation and Megan has $136,000
in superannuation.
In addition, Megan works as a sales and marketing manager in the city for a financial
services company. She is on a total salary package of $155,000.
At the meeting, Russel hands over last financial year’s business results and his draft
budget of sales and expenses for the coming financial year. The budget for the new year
shows expected sales of $3,764,000 and a net profit of $637,979.
HA3021 Corporations Law Individual Assignment T1 2021
Page 3 of 5
Issues to be considered
During the meeting, Russel has a number of questions relating to important issues
surrounding the future of his business. Answer the following questions relating to Russel ’s
matter:
(1) What options does Russel have to structure the Pinnaclewear business? Name
each business structure used in Australia that Russel can choose and then define
and describe the basic characteristics of this business structure.
(2) From the facts presented, identify the important issues that will arise as Russel
chooses the best type/s of business structure/s and the factors that he will need to
consider in choosing the right business structure for his business.
(3) Russel still wants to run the business — he wants to be in control. How would the
other business structures differ from just Russel as a sole trader, specifically from
the aspect of control over the business?
Note:
Question 4 will be released at the end of Week 7.
HA3021 Corporations Law Individual Assignment T1 2021
Page 4 of 5
Marking Rubric
Individual Assignment
Total marks
available: 20 marks
per question
Excellent Good Satisfactory Unsatisfactory
Identification of
material facts
involved in problem
question
(8 marks)
7.5 to 8 marks
Completely
identifies all
relevant facts of
case
6 to 7 marks
Identifies most of
the relevant facts
of case
4 to 5.5 marks
Identifies the
basic relevant
facts of the case
but misses other
relevant facts
Below 4 marks
Does not identify
relevant facts of case
Identification of
legal issues / legal
question and
relevant law
(10 marks)
9 to 10 marks
Correctly identifies
all relevant legal
issues and are
stated in the form
of questions.
Correctly identifies
relevant and
appropriate legal
rules and case law,
and states them in
the form of
statements
7 to 8 marks
Issues correctly
identified, but
may contain
extraneous
information and
are not stated in
the form of
questions.
Legal rules and
case law correctly
identified, but
may contain
extraneous info
and are not in the
form of
statements.
5 to 6 marks
Issues are not
completely
identified.
Legal rules and
case law not
correctly
identified.
Below 5 marks
Identifies incorrect or
irrelevant issues.
Identifies incorrect or
irrelevant legal rules
and case law.
Thorough yet
succinct application
of law to material
facts
(10 marks)
9 to 10 marks
Correctly identifies
facts;
well-reasoned
discussion relating
facts to the rules
and case law.
7 to 8 marks
Correctly
identifies facts.
Not well
reasoned.
5 to 6 marks
Facts not correctly
identified.
Analysis
incoherent.
Below 5 marks
Scant to no analysis.
Citation and
referencing
(including minimum
number of
references)
(8 marks)
7.5 to 8 marks
Correctly cites
minimum of 6
references, in-text
and in reference
list.
6 to 7 marks
Has minimum of 6
references; or has
occasional errors
in formatting of
in-text citations
and reference list
4 to 5.5 marks
Does not have
minimum of 6
references or
contains errors in
formatting of
in-text citations
and reference list
Below 4 marks
No referencing either
in-text or in reference
list; or cites
inappropriate
references; or all
references not cited in
the correct format.
HA3021 Corporations Law Individual Assignment T1 2021
Page 5 of 5
Professional quality
including language
use and writing
style
(4 marks)
3.75 to 4 marks
Professional
language. No
grammatical,
punctuation or
spelling errors.
3 to 3.5 marks
Some mistakes.
Does not detract
from
understanding.
2.5 to 2.75 marks
Many mistakes.
Detracts from
understanding.
Sloppy.
Below 2 marks
Reflects no real effort.
Deductions
Excess word count
(1 mark for every
25 words over)
Under the word
limit (1 mark for
every 25 word
under)
Lacks minimum of 6
references (1 mark
for every missing
reference)
HA3021 Corporations Law Individual Assignment T1 2021
Answered 1 days AfterMay 03, 2021HA3021

Solution

Jose Francis answered on May 05 2021
18 Votes

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