Is Belgium A Nation Of The International Market Through...

Belgium becomes a nation that creates a foothold in the international market through colonization in Congo. Even though the exploitation was ramped throughout all the colonies, Congo might have been the most extreme case of exploitation. Through the exploitation of the Congo lands, and the government deeming most of the rain forest â€Å"uninhabitable† those lands were turned over to the Belgium government and the resources were exhausted in that area. As the rubber vines would dry up and die the expectation output from the Belgium government remained the same. In fact it was well documented that government officials gave the green light to allow harsh punishments to be administered on to the villagers if they were short on the amount of rubber that was produced. â€Å"Soldiers killed gathers or sometimes their families as punishment for not meeting their quotes† (Gilbert and Reynolds 279). The brutality of the soldiers methods were barbaric, â€Å"to show that [ the soldiers] had not stolen or wasted the ammunition [the soldiers] were expected to bring back the hands of their victims† (Gilbert and Reynolds 279). With the diminishing supply of rubber in the Congo the harsher the punishment was being distributed to the African people in the Congo, and King Leopold’s Free State was losing money. As the demand rose and the supply was diminishing many of the â€Å"villages fled into the forest† (Gilbert and Reynolds 279) while others would rebel against the Belgium government, and hostilitiesShow MoreRelatedThe European Colonization Of Africa1461 Words   |  6 PagesThe European colonization of Africa, also known as the Scramble for Africa, Partition of Africa, or Conquest of Africa, occurred between the 1870s and 1900s, and was the invasion, occupation, colonization, and annexation of African territory by European powers during a period of New Imperialism. European control of the continent increased from 10 percent (1870) to 90 percent (1914), with only three territories, Saguia el-Hamra, which was later integrated into Spanish Sahara, Ethiopia and LiberiaRead MoreColonialism Of Afric A Continent Dependent On International Aid1826 Words   |  8 Pagesbe the poorest and least developed lands in the world, which is puzzling due to its wealth of natural resources. The land is riddled with corruption, poor living conditions, disease, and famine. Most would argue it is a continent dependent on international aid. While others contend it is a directionless land unable to recover from the generations of colonial rule. The bearing of colonialism had some devastating effects on the land and its people, it also gave way to some really monumental stridesRead MoreScramble Africa And The Aftermath Essay2328 Words   |  10 PagesScrambling Africa and the Aftermath. One common phenomenon between many nations of the world is the colony. The United States, Canada, South Korea, Niger, India, Kenya, Australia, and the Republic of South Africa and more shared the pros and cons of colonial systems. They are all former colonies to the extent that India, Nigeria, South Africa, Australia, Canada, and New Zealand are members of the Commonwealth, they are former colonies of the United Kingdom and they all continue to concede the nominalRead MoreA Time Of Colonization Of The African Continent By European Power1537 Words   |  7 PagesA time of expeditious colonization of the African continent by European power is better known as ‘the scramble for Africa’. The European nations involved in the scramble were Germany, France, Britain, Belgium, Portugal, and Italy. The economic, social, and military evolution Europe was going through at the time allowed for this to happen. In 1870, only 10 percent of Africa was under European control. However, ove r time European rivalries intensified which caused a mad scramble to rule as much ofRead MoreThe Effects of Colonization on Various African Countries Essay1383 Words   |  6 Pagesdecisions without taking into account how society got to that point, and the situation of society when power was transferred would be asinine. The effects of colonization on various African countries through border setting and defining ethnic groups, the morphing of ethnic group disputes into class-based struggles, and the stunting of economies through failure to diversify national economies is intrinsically linked to the paths followed by leadership after attaining independence. Previous to colonialRead MoreColonization of Africa1542 Words   |  7 PagesConquests, colonization, the slave trade, and the spread of consumerist society have shaped and formed the grounds for which developing countries find themselves today. The countries of the developing world subjected to colonialism have been faced with a number of impediments throughout the years which have hindered social and economic growth, and laid the foundation which bred cultural conflict. Colonialism, however, too bought Western civilization and all its attractions to underdeveloped countriesRead MoreThe Recent Bloody History of Rwanda, Uganda and Congo1690 Words   |  7 Pages(Carayannis, 2003). With the governing of Mobutu the two armies controlled the camps as they reorganised. The civil war continued as the neighbouring Rwanda, its government and local Banyamulenge were attacked by the armies in Zaire and they attacked back through a rebellion (Carayannis, 2003). When the armies of the refuge e camps in Zaire were conquered by this rebellion Laurent-Desire Kabila employed as the leader of the Congolese under the Alliance des Forces Democratiques pour la Liberation (AFDL) andRead MoreWhy Is It That Europe Colonized Africa and Asia2901 Words   |  12 PagesReasons why Europe Colonized Asia and Africa and not the Other Way Round Student’s Name: Institutional affiliation: Colonization is the governing influence, control or acquiring partial or full political control past another country, occupying it with foreign settlers and manipulating it economically. It also is when a group or society of people migrates from one area to another but keep their original homeland language and culture. Colonialism is establishment and preservationRead MoreColonization and the First Globalization2299 Words   |  10 PagesClayton Partridge World History to 1750 Professor Schultz Colonization and the First Globalization In order for one to gain a better knowledge of how terrestrial and ocean colonization unfolded in the Americas, Siberia, Africa, and China, a person must first understand the definition of colonization. Simply put, colonization is an ongoing process of control by which a central system of power dominates the surrounding land and its components. This means that a foreign government moves intoRead Morecolonialism1163 Words   |  5 Pagescentury that explorers opened its interior. And it was only in the last quarter of that century that land-hungry Western European powers divided among themselves, Africa south of the Sahara. At an international conference in Berlin in 1884-1885, representatives of the colonial powers Britain, France, Belgium, Portugal, Germany and Spain convened to iron out their territorial claims. An agreement was reached on boundaries which sowed the seeds for many bitter tribal conflicts which continue to this day

Essay on Hate Speech is the Price We Must Pay for Freedom...

Living in the United States we enjoy many wonderful freedoms and liberties. Even though most of these freedoms seem innate to our lives, most have been earned though sacrifice and hard work. Out of all of our rights, freedom of speech is perhaps our most cherished, and one of the most controversial. Hate speech is one of the prices we all endure to ensure our speech stays free. But with hate speeches becoming increasingly common, many wonder if it is too great of a price to pay, or one that we should have to pay at all. Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech,or of the press: or the right of the people†¦show more content†¦After a conviction in a lower court for offensive speech, and an affirming decision by the Supreme Court, the fighting words doctrine was born. It is worth noting that the fighting words doctrine has not been extended to written works. If someone were t o put the exact same thing in a book or an advertisement it could not get the fighting words classification. This is because the expression needs to â€Å"incite an immediate breach of peace† and to date no written material has lived up to this standard; the court is looking for a true â€Å"verbal attack†. It would seem that in the wake of the Chaplinsky ruling that a hate speech would be a very difficult, if not impossible thing to pull off. So how can the Ku Klux Klan have a rally two days before Martin Luther King Day? And according to one Klan leader, â€Å"Protesting the holiday and â€Å"Celebrate Robert E. Lees birthday and talking about Americanism, as opposed to Karl Marx and the philosophy of Martin Luther King. Well also talk about American sovereignty, imbalance in immigration and the loss of jobs to immigrants, (Associated) Surely during a gathering like this there will be a lot more offensive things said than someone being called a dammed fascist. 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It is life. We do what we must to get by, financially, and sometimes doing so, it is still not enough. Sometimes running around, getting an education and earing income, can make one forget to stop and breathe. Really breathe. I do not do enough of that. I sometimes skip breathsRead MoreEssay on enemy of the people2869 Words   |  12 Pagescharity. He then sees his way out as Hovstad enters with an expression that means business. After sleeping on the news Hovstad is a bit concerned with the repercussions of spreading the information. Dr. Stockmann helps Hovstad to see that the truth must come first, and Hovstad agrees that the best way is to use the paper and discuss the discovery with the public. Mr. Aslaksen is a printer for the People’s Herald and also the chairman of the Ratepayers Association. He heard the news from Mr. Billings

Case study Capital Gains Taxs

Questions: Case study 1: Capital Gains TaxDave Solomon is 59 years of age and is planning for his retirement. Following a visit tohis financial adviser in March of the current tax year, Dave wants to contribute funds tohis personal superannuation fund before 30 June of the current tax year. He has decidedto sell the majority of his assets to raise the $1,000,000. He then intends to rent a cityapartment and withdraw tax-free amounts from his personal superannuation accountonce he turns 60 in August of the next year. Dave has provided you with the followingdetails of the assets he has sold: (a) A two-storey residence at St Lucia in which he has lived for the last 30 years. He paid$70,000 to purchase the property and received $850,000 on 27 June of the current taxyear, after the real estate agent deducted commissions of $15,000. The residence wasoriginally sold at auction and the buyerplaced an $85,000 deposit on the property.Unfortunately, two weeks later the buyer indicated that he did not have sufficientfunds to proceed with the purchase, thereby forfeiting his deposit to Dave on 1 May ofthe current tax year. The real estate agents then negotiated the sale of the residence toanother interested party. (b) A painting by Pro Hart that he purchased on 20 September 1985 for $15,000. Thepainting was sold at auction on 31 May of the current tax year for $125,000. (c) A luxury motor cruiser that he has moored at the Manly Yacht club. He purchased theboat in late 2004 for $110,000. He sold it on 1 June of the current tax year to a localboat broker for $60,000. (d) On 5 June of the current tax year he sold for $80,000 a parcel of shares in a newly listedmining company. He purchased these shares on 10 January of the current tax year for$75,000. He borrowed $70,000 to fund the purchase of these shares and incurred$5,000 in interest on the loan. He also paid $750 in brokerage on the sale of the sharesand $250 in stamp duty on the purchase of these shares. Dave has contacted the ATOand they have advised him that the interest on the loan will not be an allowablededuction because the shares are not generating any assessable income.Dave has also indicated that his taxation return for the year ended 30 June of the previousyear shows a net capital loss of $10,000 from the sale of shares. These shares were the onlyassets he sold in that year. (a) Based on the information above, determine Dave Solomons net capital gain or netcapital loss for the year ended 30 June of the current tax year. (b) If Dave has a net capital gain, what does he do with this amount? (c) If Dave has a net capital loss, what does he do with this amount? Answers: Introduction Capital gain is not only for rich peoples, it is also for middle class peoples who are holding any capital asset and sale it during the year. It is just one of the other source of income like income from salary, income from house property and other sources (Burkhauser, Hahn, and Wilkins 2015). Capital gain in Australia is determined as per various guidelines given by Australian Tax Authority (ATO). Discussion Capital gain is the difference between Net sales Consideration and Cost of Acquisition. It is derived from deducting Cost of Acquisition from Net sales Consideration. Net sales consideration is obtained by subtracting expenses on sale from Gross sales consideration. Cost of acquisition includes all other charges required for bringing the asset into existence (Harding 2013). Capital gain is taxable in the year in which asset is sold Capital asset means any asset, which is not held in the ordinary course of business for sale. It does not include personal property held like clothes, furniture etc. However, jewellery and archeological collection is not included in the definition of capital asset (Alvaredo et al. 2013). Capital assets are of two types: Short-term Capital asset- Capital asset held for less than 12 months. Lon Term capital Asset- Capital asset held for more than 12 months According to ATO, There are three methods for computing capital gain: Indexation method- This method is applied if capital asset is acquired before 21st Sept 1999 and is a long term capital asset. In this method Customer Price Index (CPI) is used for computing capital gain. Indexation benefit is available until Sept 1999. Discount method- This method is applied long-term capital asset acquired after 21st Sept 1999 and is a. 50% discount for individual and 33.33% for super endowment fund. Residual method- This is applied for gain derived from sale of short-term capital asset (Woellner et al. 2012). There are various capital assets, gain on sale of which is exempted from capital gain tax, such as residential house, motor car, collectables valuing less than $ 500, personal affect items etc. Part a) Computation of Capital Gain (a) In this problem, Mr. Dave sold his residential house for $ 850000 in the current year, which he purchased almost 30 years back for $ 70000. Advance money forfeited because of previous agreement is treated as income from other source as per ATO. Mr. Dave is not liable to pay CGT on sale of two-storey residence as capital gain on sale of residential house is exempted since he has lived there for more than 5 years. b) Painting was sold for $125000 in the current year, which was purchased for $ 15000 almost 30 years ago. Indexation method will be applied here since it was acquired before 21st September 1999 Net sales Consideration 125000 Less: Indexed Cost of Acquisition (15000*123.4/71.3) 25961 Long Term capital gain 99039 (c) Motor Cruiser, was sold in the current year for $ 110000 that was purchased in 2004 for $ 60000. Discount method shall be applied here as it was acquired after 21st September 1999, Net sales Consideration 60000 Less: Cost of acquisition 110000 Long Term capital Loss 50000 (d) Shares that was sold on 10th January of the current year and was acquired in 5th June of the current year. Therefore, the shares are short term as it were held for less than 12 months and so residual method will be applied. Gross Sales Consideration 80000 Less: Brokerage 750 Net Sales Consideration 79250 Less: Cost of acquisition 75000 Stamp duty on purchase 250 Short Term Capital Gain 4000 So, Total capital Gain of Mr. Dave is given below: $ Long-term capital gain on sale of Residential House Nil Paintings 150961 Long-term capital loss on sale of Cruiser (50000) Short-term capital gain on sale of Shares 4000 Set off of Capital Loss bought forward from previous year (10000) Long term capital gain 94961 Part b) Treatment of capital Gain Net Capital gain is the summation of all capital gain and loss derived during the year and after adjusting capital loss of previous year, which could not be set off during the previous year and so bought forward to the current year. Since, Mr. Dave has long-term capital gains of $ 94961 he is required to pay tax during the current year. He can also contribute toward personal superannuation fund. He has to preserve different credentials when any noteworthy operation occurs like transaction receipt, court case expenses, everyday expenditure relating to upkeep, expenses relating to stamp duty and brokerage on purchase or sale of capital asset, interest on loan taken to acquire capital asset (Faccio and Xu 2015). Part c) Treatment of Capital Loss Net Capital loss arises when capital loss during the year exceeds capital gain during the year or if there is no capital gain during the year. Capital loss can be set off only with capital gain and not with any other source of income. Short-term capital loss can be set off with short-term capital gain as well as long-term capital gain whereas long term capital gain can be set off only with long term capital gain and cannot be set off with Short term capital gain. Capital loss not set off during the year can be carried forward for indefinite period of time and set off only against capital gain and not from any other source. Assessee cant decide on whether to set off his/her capital loss during the current year or not. If he has a capital loss then he must set off if there is a capital gain otherwise the capital loss will be lapsed. Conclusion In short, it can be concluded that Capital gain is assessable as income of the year and Capital gain tax is payable on it. Mr. Dave is required to pay capital gain tax as he has capital gain during the year. He can also adopt various tax planning and save payment of CGT (Ehling et al. 2013). Capital gain tax is one of the major source of income of Australian Government. References Alvaredo, F., Atkinson, A.B., Piketty, T. and Saez, E., 2013.The top 1 percent in international and historical perspective(No. w19075). National Bureau of Economic Research. Burkhauser, R.V., Hahn, M.H. and Wilkins, R., 2015. Measuring top incomes using tax record data: A cautionary tale from Australia.The Journal of Economic Inequality,13(2), pp.181-205. Ehling, P., Gallmeyer, M.F., Srivastava, S., Tompaidis, S. and Yang, C., 2013, December. Portfolio choice with capital gain taxation and the limited use of losses. InEFA 2008 Athens Meetings Paper. Faccio, M. and Xu, J., 2015. Taxes and capital structure.Journal of Financial and Quantitative Analysis,50(03), pp.277-300. Harding, M., 2013. Taxation of dividend, interest, and capital gain income. Woellner, R., Barkoczy, S., Murphy, S., Evans, C. and Pinto, D., 2012.Australian taxation law. CCH Australia.