Globalization And Its Effect On Society Essay - 2301 Words

Globalization is the process in which economic, political, social, and cultural differences are lessened by the exchange of goods and ideas across national boundaries. Greater interactions among countries eliminate the barriers created by distance. The speed and scope of globalization led to differing opinions about the positive or negative impacts on society. Proponents of globalization argue that free trade and free movement of labor allows more variety of consumer goods, allocation of skilled workers, and a continuous flow of new ideas to any market around the world. While opponents of globalization claim that the creation of an international free market has a huge pressure on the individuals of the developed nations who are at risk out job outsourcing. Overall, economic globalization has had a positive effect on free trade and economic prosperity for developed countries, which can be deemed greater than the negative effect on some developing nations by expanding their domestic in come inequality disparity. For thousands of years, people—and, later, corporations—have been buying from and selling to each other; at first, performing sales transactions with neighboring communities and later, with neighboring countries. The end of communism in the last decade of the twentieth century opened a new route of capitalist enterprise. Advances in telecommunications and computers meant the whole world could communicate quickly and easily, and the growth of multinational corporationsShow MoreRelatedGlobalization And Its Effects On Society939 Words   |  4 Pages Globalization can be described as the interaction and integration among the people, companies, and governments of different nations (http://www.globalization101.org/what-is-globalization/). For the past century, there have been countless debates over whether the effects of globalization are positive or negative. The topic of globalization is seen as one of the most debatable topics in our current society and is often discussed during political debates before elections. This paper will focus on theRead MoreGlobalization And Its Effects On Society1011 Words   |  5 Pagescalled globalization. Globalization has reformed almost every industry and affects billions of lives whether you realize it or not. Around the world, people view international trade as a good thing but this is hindered by concerns about its side effects. To find the balance between pros and cons associated with globalization, citizens everywhere need to know how globalization works. This includes its effects on the e nvironment, culture, political systems, and overall the wellbeing of societies aroundRead MoreGlobalization And Its Effect On Society1546 Words   |  7 PagesJoona A. Pang Ant 126 The term globalization is so saturated with conclusive idealism that such economic philosophy can only appear to intend principles of fairness or freedom. Before the 18th century, the belief was that societies were in a state of decline amongst ancient civilizations. However, during the Enlightenment period, the notion of progress became pervasive, which eventually prompted sociological and cultural revolution, the Western stage theories of progress. In the course,Read MoreGlobalization And Its Effects On Society Essay1076 Words   |  5 PagesIn modern societies, globalisation has become an issue having various impacts on many nations around the world. The issue can be described as â€Å"a process in which physical, political, economic, and cultural barriers separating different regions of the world are reduced or removed, thereby stimulating exchanges in goods, services, money, and people.† (Hamilton Webster, 2015, p.5). On the one hand, globalisation has numerous goo d effects on the development of countries, such as diminishing trade barriersRead MoreGlobalization And Its Effect On Society1240 Words   |  5 PagesGlobalization and the use of new technologies and how it strengthens or weakens global inequalities Globalization is a very important force in the new world and it continues to impact the lives of individuals as well as groups world over. The role and affect of globalization has broadened over time. It has resulted in the lessening of trade barriers, integration of the economy of the world, increase in opportunities for groups and individuals alike and an increase in the economic well being andRead MoreGlobalization And Its Effects On Society844 Words   |  4 Pagestextbook on globalization for example opened my eyes to I am truly affected by globalization, from the clothes I have on my body to the laptop, books and cell phone I have at my fingertips. Companies are able to make the most profit and keep prices reasonable if they globalize. Even though globalization is shown to be a positive advantage for the core countries that are industrialized commercialism versus the developing countries that rely on labor given to them. In doing so, globalization has causedRead MoreGlobaliz ation And Its Effects On Society Essay1780 Words   |  8 PagesSociety has proven time after time to have the inherent tendency of turning a blind eye upon its flaws, particularly when putting people benefiting from privilege and power in jeopardy of being questioned. Peeling back the reasons which justify the way cultural expectations and behaviors of our society are normalized unveils fundamental issues rooting from discrimination towards race, gender, social class, and age. Globalization has been coined with a face of a positive, bright, progressive futureRead MoreGlobalization : Positive And Negative Effects On Todays Society1582 Words   |  7 Pagesbeing more globalized. Globalization is the process of interaction amongst people, businesses, governments of different countries and nations, and is driven and or influenced by international trade and international business. Technology has been one of the largest contributing factors to the reason why the world is becoming mor e globalized. Globalization has both positive and negative effects on the environment, societies, as well as today’s cultures. Cultural globalization refers to the processRead MoreThe Effects of Globalization on US Society and Economy Essay1359 Words   |  6 Pagesetc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalizationRead MoreGlobalization: Its Effects on our Society Today A Brief History1435 Words   |  6 PagesWhat Is â€Å"Globalization†? Globalization is the growth, expansion and integration of different systems such as economics, culture and politics on a global scale. Western countries went to third world countries and persuaded their citizens by blaming their economical and social problems on their technological backwardness rather than the exploitative nature of their political system. By accomplishing this, the western countries gain entry into the nations and trade technology for resources and labour

Ferris Bueller and Catcher in the Rye Comparative Essay

Ferris Bueller and Catcher in the Rye – Comparative Essay Salinger’s 1951 novel, â€Å"The Catcher in the Rye†, and John Hughes’ 1987 teenage comedy film â€Å"Ferris Bueller’s Day Off†, both reflect the lives of teenagers in a time span of nearly 40 years. The two authors successfully convey society’s values on materialism and education in the two different eras using language and a variety of techniques. These values have affected both Holden Caufield and Ferris Bueller, the former negatively and the latter positively, as will now be discussed. Salinger was born in New York in 1919 and wrote The Catcher in the Rye in 1951, and the values in the book reflected values in America at that time. A major value which society followed during that era†¦show more content†¦Unlike Holden, Ferris is depicted as a character who accepts the values of society in order to accomplish what he wants. Hughes’ successfully uses camera techniques such as low camera angles and strong music to show the confidence Ferris possesses. Ferris breaks through the fourth wall when he explains to viewers how to act sick and that it is his â€Å"final chance to have a good time†, showing acceptance for the changes in the future. What Ferris says, such as â€Å"If I’m going to be busted, it’s not going to be by a guy like him† and â€Å"So I can have a fruitful life† reveals his arrogance and disrespect for the values of society. By setting the movie in Chicago, Hughes reflects on the values of society. The wide aerial shot of Chicago and then scenes of modern music and high rise buildings, and the camera shot from the top as Ferris goes to the Sears Tower shows people all rushing to work, but no faces are seen, which represents the lacking of individuality as they all try to aim for the highest in a city full of materialism. As teenagers start to become rebellious after WWII, the private education system is seen as a corrupt system. The education system is introduced via the Pencey Prep motto â€Å"Since1888 we have been moulding boys into splendid, clear-thinking young men.† On the same advertisement, Holden talks about the â€Å"guy on the horse playing polo† and says that he has never seen a single

Taxation - Theory - Practice and Law Capital Gains Tax

Question: Discuss about theTaxation,Theory,Practice and Law for Capital Gains Tax. Answer: Capital Gains Tax In the base of Australia, CGT is imposed by persuading with the net gains as the later is treated as the taxable incomes during an assessment year when the capital assets held by the assessee for sale or disposal. If the assessee holds the capital assets for 1 year or more then the gains from the sale or disposal of the same is allowed with a discount of 50% exclusively for the individual taxpayers and 33.3% for the superannuation funds. For attaining capital gains, only capital assets can be held for sale or despatch. Capital assets are the assets that are owned and possessed by the assessee for any business or professional purposes or even any private purposes. Capital assets include any property, whether movable or immovable, tangible or intangible, fixed or circulating assets in nature (Arnold, et al., 2011). For paying the capital gains tax, it is important that the assessee works out on the capital gains and capital losses if any from the disposal or sale of the capital assets. Capital gains tax is imposed on the net capital profits/losses attained by the taxpayers at the time of sale of the assets. Capital gains from the sale of the capital assets are prone to tax at the standard rates of income tax available in Australia. Capital gains are computed by deducting the cost base from the full value of consideration or rather the sale value of capital assets when set out for sale. The cost base is the summation of the following three components: Purchase cost of the property Costs associated to the improvement Any incidental charges for buying and disposing the property for sale Any non-capital cost of ownership with effect from 21st august 1991 Again, the applied capital gains tax rule in Australia states that if the asset is held with the assessee for less than 1 year, the gains attained from the disposal of that particular asset is not indexed. The concept of indexation is usually applicable for the derivation of the long term capital gains (Clarke, et al., 2011). As a result, when the property is held for less than 1 year, the gains are short term in nature and thus are not indexed. Long term Capital gains = Sale consideration Indexed cost of acquisition Indexed cost of acquisition = Actual cost of acquisition x [Index in the year of sale / index in the year of acquisition] In the base of Australia, the concept of indexation is applied depending upon the date of acquisition. If the assets are purchased on after 21st September 1999, then the capital gains are unindexed and are discounted @ 50%. Again, if the property is acquired prior 21st September 1999, indexation is applied based on the movements of the consumer price index (CPI) and the indexation is static as at 30th September 1999. Application of capital gains tax is valid on the personal use of the assets and any other collectables. But these are categorized differently. Any capital losses can be set off only against capital gains under the same category and no other category. Fred in the given case scenario acquired the property in 1987, i.e. before 21st September 1999. Then Fred is a taxpayer as per the CPI from 1985-1999. Since the property was acquired on 1987, the CPI is to be considered as 81.4. For deriving the capital gains from the sale of the property, Fred shall deduct the cost base from the sale consideration and the indexation will not be applied as the property was acquired before 21st 1999. Computation of the capital gains tax in given case scenario can be shown as below: Particulars Amount AUD ($000) Amount AUD ($000) Full value of consideration from the sale of the holiday home (1) 8, 00, 000 (-) Miscellaneous costs - legal charges 1, 100 - Commission of the agents 9, 900 Total costs for the acquisition of holiday home (2) 11, 000 Residual value of the property (1-2) = 3 7, 89, 000 (-) acquisition costs 1, 00, 000 (-) stamp duty 2, 000 (-) improvement and development costs to build garage on the premises of the holiday home 20, 000 (-) legal fees 1, 000 Total costs for disposal of the asset (4) 1, 23, 000 Capital gains from the sales (3-4) = 5 6, 66, 000 (-) Discount @ 50% on (5) = 6 3, 33, 000 Capital gains (5-6) = 7 3, 33, 000 However, as per the tax implications, any capital losses from the sale of the assets shall be set of only against capital gains from sale of the property under the same category. The amount of capital loss from the sale of the shares amounting to AUD $ 10, 000 shall be set off against the capital gains earned by Fred from the sale of the holiday home at Blue Mountains. The calculations are depicted below: Particulars Amount AUD ($000) Capital gains from the sale of holiday home = 3, 33, 000 Less: Capital loss from the sale of the shares = 10, 000 Net capital gains available in hand = 3, 23,000 Fred is allowed to pay tax on the amount of AUD $ 3, 23, 000 based on the current assessment year as per the tax implications as per the Income Tax Assessment Act 1997. In accordance to the provision of Part IIIA of the Income Tax Assessment Act 1999, the assets were acquired before 25th June 1992. If the loss would have arose from the sale of an antiques, then the amount of capital assets shall be quite different from the sale from the sale of the shares (Gutirrezà ¢Ã¢â€š ¬Ã‚ ià ¢Ã¢â€š ¬Ã‚ Puigarnau and Van Ommeren, 2011). The capital losses attained from the sale of the antiques shall be considered as the sale of personal uses. Considering the fact that the antique vase was acquired before 1992, the antiques are categorized under the exemptions from capital gains tax. Accordingly, the capital losses then would not have been possible against the sale of the house property since antiques are assets for personal effects. Case Study 2: Fringe Benefit Tax Fringe Benefit Tax is also known as FBT is the tax that usually an employer has to pay off in respect to the benefits that are enjoyed by the employees working in his/her workplaces. Moreover, a FBT is considered as the major attempt for the employers to impose tax implications on the benefits that were most probably avoided by the tax payers. The services that are usually provided to the taxpayers are several privileges, benefits, amenities that are provided from employers end to the employees (Scott, et al., 2012). FBT was usually charged @ 30% of the benefits provided by the employers. There are some exemptions for FBT and these are as follows: Expenses on the food and beverages that are not incurred during the working hours Payment of the fees for taking voluntary participation in any conferences Any expenses incurred for meeting all the statutory and legal requirements as per the government norms FBT is different from the income tax and is always applied on the taxable value of the fringe benefits rendered by the employers to the employees. FBT is charged with effect from1st April to 31st March of the current assessment year. In Australia, FBT is levied as per the Australian Tax System and is applicable for any non-cash benefits provided by the employer to his employees. FBT is applicable regardless of the fact that whether the non-cash benefits are provided directly or indirectly to the employees by the employers or to any other associate of the employees who work at the same workplace. In Australia, FBT was levied initially in 1986 and with effect from 1986 the employers are levied with FBT. In Australia, the benefits include any non-cash benefits apart from the compensation, salaries, wages, rewards, bonuses etc. For example, any health related benefits, child education benefits, company car for official purposes and personal uses, loanable fringe benefits etc. (Tiley and Loutzenhiser, 2012). When the benefits are regarded as exemptions to FBT, then it does not necessarily mean that it is not an FBT. But that then is computed as 0% FBT liability. Again, as per the rules of Australian FBT rules, when the employer of any organization provides his/her employees with car, then it is not necessary that the employer is imposed to FBT, provided the car is equally used for the personal uses. As per the FBT considerations of 2008, the exemption for FBT on electronics benefits were removed. As per the budget of 2015-2016, the federal government of Australia has brought some changes for FBT on the meal entertainment and holiday accommodation. FBT is now however applicable for several benefit housing; accommodation; meal; dinner etc. In the given case scenario, Emma is using the car for her personal use, [assuming that she is using the car by 50% for her personal use] the car provided by the management of Periwinkle Ltd. is optimally imposed to FBT. A car under FBT charges can be categorized as per three conditions: A car is a sedan or a station wagon Possesses the capacity to carry a maximum of 9 individuals at a time Also can carry goods weighing 1tonnes at a time The car that is used by Emma is categorized under two different categories effective for personal uses and also can be made effective for personal purposes (Woellner, et al., 2016). But a car is again is treated as an exemption under the following situations: Journey between home and the workplace Journey for the employment related works Non-work-related uses that is minor, irregular and uncommon Once the actual amount of the FBT increases the ultimate limit of AUD $ 2000, then the employee is obliged to file up tax returns on the benefits availed. Particulars Amount AUD ($000) A: Fringe benefit amount of the car = {original cost of the care * 2 * (350/1/2)} / 365 the actual contribution of the employee = $ {33, 000 * 2 * 175} / 365 0 = $ 31, 643.83 = $ 31, 644 (rounded figure) Note: the car was used for 50% for the personal uses by Emma B: Total FBT liability = $ 31, 644 * 47% = $ 14, 872.68 C: Fringe benefit tax on the loanable amount provided to Emma Loanable fund = $ 5, 00, 000.00 Interest rate charged = 4.45% Standard interest rate on loan in Australia = 5.95% The excess is to be filed as fringe benefit tax Therefore, Fringe benefit tax on loan = principle amount * difference of the interest rate * time = $ [5, 00, 000 * (5.95 -4.45) % * 6/12] = $ [5, 00,000 * 1.5 * 0.5] = $ 3, 75, 000 D: Fringe benefit on the sale of the bathtub Sale price of the bathtub = $ 2, 600 Acquisition cost = $ 1, 300 Manufacturing cost = $ 700 Amount of fringe benefit = Sale price acquisition cost Fringe benefit p= $ 1300 E: Total value of fringe benefits availed by Emma therefore is the summation of the fringe benefits in all the three cases = $ [31, 644 + 3, 75, 000 + 1,300] = $ 4, 07, 944 Therefore, the total value of fringe benefits can be derived as = $ 4, 07, 944 / 0.51 = $ 7, 99, 891 [Note: The car is utilized by Emma for her personal use @ 50%.] If Emma would have utilized the amount of AUD $ 50, 000 for personal use, instead of lending to her husband, then the amount of FBT would have been as follows: Particulars Amount AUD ($000) Fringe benefits on the loanable fund = $ [4, 50, 000 * (5.95 -4.45) % * 6/12] Gross amount of fringe benefit = $3, 37, 500 The entire amount of FBT shall be subjected to rules and Australian tax system as per IT Act 1997 provisions. Bibliography Arnold, J.M., Brys, B., Heady, C., Johansson, ., Schwellnus, C. and Vartia, L., (2011). Tax policy for economic recovery and growth.The Economic Journal,121(550), pp.F59-F80. Clarke, M., Seng, D. and Whiting, R.H., (2011). Intellectual capital and firm performance in Australia.Journal of Intellectual Capital,12(4), pp.505-530. Gutirrezà ¢Ã¢â€š ¬Ã‚ ià ¢Ã¢â€š ¬Ã‚ Puigarnau, E. and Van Ommeren, J.N., (2011). Welfare Effects Of Distortionary Fringe Benefits Taxation: The Case Of Employerà ¢Ã¢â€š ¬Ã‚ Provided Cars.International Economic Review,52(4), pp.1105-1122. Scott, R.A., Currie, G.V. and Tivendale, K.J., (2012). Company cars and fringe benefit tax: understanding the impacts on strategic transport targets. Tax, C.G., (2010). Capital Gains Tax.NEWSLETTER. Tiley, J. and Loutzenhiser, G., (2012).Revenue Law: Introduction to UK Tax Law; Income Tax; Capital Gains Tax; Inheritance Tax. Bloomsbury Publishing. Woellner, R., Barkoczy, S., Murphy, S., Evans, C. and Pinto, D., (2016).Australian Taxation Law 2016. Oxford University Press. Yates, J., (2011), August. Housing in Australia in the 2000s: on the agenda too late?. InThe Australian Economy in the 2000s, Proceedings of a Conference, Reserve Bank of Australia, Sydney(pp. 261-296).

Taiwan Essays - Psychology, Emotions, Personal Life,

Taiwan Taiwan is a state in East Asia and some of its neighbors are Japan and Philippines. Officially is known as The Republic of China, even though is not a part of China. It is the first democratic country in Asia and is the last country using traditional Chinese as a first language for its people. In addition, is not part of the United Nations despite the fact that is a densely populated country and has a large economy .Even if it is one of the most populous states it has the lowest birthrate in the whole world. 35909251135380 Life satisfaction and happiness are related between them however they differ in measures of we ll-being. The relationship between income and happiness is measured by using data from Taiwan to study the macroeconomics of happiness, as National Happiness is used as an indicator to assess the performance of an economy . H appiness is an emotional state correlated directly to sudden changes in mood, whilst satisfaction is considered a judgmental state. Through the use of estimations models have been made to examine the determinants of happiness and satisfaction amongst Taiwanese people in a number of life domains such as family bonds, health, relationships with friends and financial situation .The results have suggested that higher income is associated with a higher level of personal well-being. While personal income has a strong positive effect on individual happiness .National income on the other hand, fails to have any significant effect either in the long or short run. A paradox was established by Easterlin in 1974, with prove included from Taiwan which states that higher income people in a country are happier. Nonetheless, economic growth fails to make people happier. After several researches from findings about statistical happiness it has been found that Nations as a whole, at least in the West, do not seem to get happier as they get richer. Furthermore, money does buy a reasonable amount of happiness; however, for a typical individual a doubling of a salary provides the same amount of happiness life events such as marriage and the birth of a baby offer. In addition, Happiness has a U-shaped in age as it falls off for a while, then stabilizes, and rises later in life. Two of the biggest negatives in life are unemployment and divorce. Generally, Married people report a higher degree of satisfaction and happiness, whilst unemployment reduces subjective well-being. Furthermore, individual's perso nal values such as lack of religious faith have strong effects on satisfaction. As a result is confirmed that personal characteristics reflect differently in terms of satisfaction and happiness according to the different domains of life. Like many countries in the world, Taiwan has undergone a steady increase in unemployment during the past several decades.Unemployed people are those who are willing and able to work, but are not currently employed .Unemployment is caused do to close down of businesses, unsatisfaction and new job seekers. Two types of Taiwan's unemployment include Frictional unemployment which results because it takes time for workers to find a job that suits their tastes and skills and structural unemployment is caused when some labor markets is inefficient to provide a job for everyone who needs one. Two main reasons of unemployment in Taiwan are industry outflow and over educated labor as undergraduate and master's degrees holders are overqualified for certain jobs. Labor with very high diplomas who's doing basic level job is also defined as a kind of unemployment in Taiwan. Because of lower wages within bigger markets, business men in Taiwan has increased their investment in China since the 70's r esulting to a reduction in demand of Taiwan's local labor .In addition, the global economic crisis affected the demand for exports of Taiwan. Firms made fewer profits and they gave no salary rests or even lay off workers .As far as employment is concerned jobs in prominent industries can be founds for IT and electronic products which are the most significant industries. While other popular industries include: chemicals, petroleum refining, motor vehicles and food processing. Industries available for skilled workers include furniture production, tool manufacture, office supplies, toys and domestic lighting products. Tourism is also considered to be one of the main developing