M4A1 PART A Essay Example | Topics and Well Written Essays - 500 words

M4A1 PART A - Essay Example Schein (2010) has appropriately asserted that a typical example of fundamental suppositions ought to be shared among the gathering individuals with the goal that they can successfully take care of the issues; when everybody has a similar arrangement of qualities and standards, at that point interior combination and outside adjustment gets simpler and it has worked decidedly for the general association. The new individuals from an association ought to be shown a similar method of seeing, considering the issues with the goal that the contentions are evaded. Thus, it is expressed by Schein that a compelling administrator needs to guarantee that he/she progresses in the authoritative examinations by watching the genuine conduct of the workforce which are marked as qualities, suppositions and relics (Bohlander and Snell, 2007). As indicated by Jung et al. (2009), Schein ordered the signs of societies and subcultures in three phases; the primary stage is known as ‘artifacts’ which are the characteristics that are obvious as they can be heard, felt and considered such to be dressing style, correspondence medium, manner of speaking, stories and so on. Relics are as company’s crucial, composed correspondence mediums and trademarks; every one of them are simple for perception however trying for translating (Cameron and Quinn, 2011). The subsequent stage is known as ‘values’ which is marginally entangled in nature yet are recognizable partly. For example, during the meeting procedure, a supervisor can make some judgment about the candidate’s values by watching him/her. At long last, in the third stage which is known as ‘basic assumptions’ are the most troublesome ones to be seen as they are profoundly implanted in the person’s conduct. They conduct becomes obvious when the individual beginnings working in the association. Henceforth, these stages join to characterize the consideration viewpoint for the HR supervisor since it

Summary of book Call of The Wild Essay Example | Topics and Well Written Essays - 250 words

Synopsis of book Call of The Wild - Essay Example In section four, Buck takes the pack’s initiative and he shows his capacity by making the pack travel quicker than the past pioneer had done. This is seen when he makes the pack make a trip from Dawson to Skaguay in one day rather than the ten days they had taken already. The pack is offered to a Scotsman after Perrault and Francois gets official requests guiding them to move somewhere else. They make a trip back to Dawson and one of the mutts passes on from exhaustion and ailment (London 36). In part five, the pooches are offered to new experts, Hal and Charles who travel with Charles’ spouse Mercedes. The naiveté of the pack’s new experts causes them to starve and convey heavier burdens than the ones it conveyed previously. The pack arrives at John Thornton’s camp and Thornton liberates it from Hal’s command (London 46). In section six, Buck becomes companions with Thornton, guards him from his enemies, and causes him win a wager (London 55). In part seven, Buck and Thornton ventures out east to locate a lost gold mine. It is here that Buck first enters the forested areas in the wake of feeling wild desires. He meanders in the wild with wolves and one day, he return to his master’s camp to discovers it assaulted by Yeehat Indians. He assaults the aggressors, executing a few and scattering the rest. The book closes with Buck going into the forested areas and joining the posers wild (London

Harvard Social Enterprise Conference

Harvard Social Enterprise Conference The Social Enterprise Conference brings together top leaders, practitioners, and students passionate about social enterprise. In our 17th year, the conference’s content focused on the untold truths of Social Enterprise and challenge participants to dare to take the steps necessary to make a difference. One of the great things about being at one of the top universities in the world is being right next to another one of the top universities in the world. The conference took place on Saturday, March 5th at the Harvard Kennedy School and Sunday, March 6th at Harvard Business School, neither of which Ive ever been to before. I really wanted to go but I had a pset due on Saturday and plans to hang out with friends Friday. So I stayed up Friday night watching Pineapple Express with a fraternity brother, then worked for six hours, finished by 8am, slept for three hours, woke up, had a nice cup of coffee, called up my friends inviting them to join me at Harvard that day, turned my MIT hat inside out, and made my way up to conference. AT MIT, they say you have to pick only two between academics, sleep, and social life, but I was damn sure going to squeeze in all three.   The Harvard Social Enterprise Conference had attendees and sponsors from all over the world. It was an honor to be able to attend and meet amazing people who shared such a strong desire to have a positive impact in the world. Aldrich Hall, part of the Harvard Business School and the location of some of the panels on the second day of the conference. This is a study hall inside of Spangler Hall. A study hall. I dont know how people could study in a place like this. Id be too distracted gawking around at the chandeliers, the mahogony floors, the fancy rugs, the leather chairs, and the exquisite atmosphere. Rich Corinthian leather. At the Untapped Talent: Breaking Down Barriers to Employment panel. Afterwards I got to talk to one of the panelists, Jordyn Lexton, founder of Drive Change, locally sourced food trucks that hire, teach, and empower formerly incarcerated youth. I shared the story of our jalapeño bacon mac and cheese  campaign  my friends and I did a few months ago and Jordyn was extremely impressed at how far weve come and how far we plan to go. Back to the Future: Impact Investing. Another panel on the second day of the conference expaling impact investments, investments into companies made with the intention to generate a measurable social or environmental impact alongside a financial return. These panels were great, but the real stealer of the show came towards the end of the first day during a virtual reality demo, where I watched an eight-minute virtual reality film called Inside Impact: East Africa. The film is part of the Clinton Global Initiative and documents President Clinton and Chelsea Clintons trip to East Africa in spring 2015 and how the Clinton Global Intitiative is changing lives and empowering communities.   I put on the glasses and just like that, I was teleported to Bill Clintons office, where he was briefing me on the initiative. I listened to him at first, but soon I became distracted and started spinning around on my chair and looking outside his office window. Suddenly I found myself in downtown Nairobi, Kenya, in the middle of the day. I was sitting behind a merchants table at a marketplace as I looked around, noticing the skyscrapers and the busy traffic around me. Then I was teleported to Kibera, the largest slum in Africa, but only a short distance away from Nairobi. I was sitting on the railroad tracks overlooking the slums. I could practically feel the heat wave over me and hear the mosquitos buzzing around. I then sat in a classroom at the Farasi Lane School back in Nairobi. A teacher trained by the Discovery Learning Alliance (DLA) was teaching her students about malaria prevention. I listened to the class, how it was taught, and how the kids answered the questions. Image courtesy of the Clinton Global Initiative. With the virtual reality headset I could see the classroom and even look directly behind me to the kids sitting in the back seats. Afterwards, I met with a Solar Sister Entrepreneur in rural Karatu, Tanzania. A solar panel on her roof charges a generator and provides her house with power, but she also sells solar-powered lights, cookstoves, and other goods. Then I attended the Starkey Foundations public hearing aid fitting in one of the neighborhoods. I watched a little boy regain his hearing and react to the snapping of his moms fingers and her subsequent tears of joy after the hearing aid was put into his ear. After the experience ended, I took off my googles and was back in the basement of the Harvard Kennedy School, speechless. I travelled halfway around the world and experienced the lives of six different people in eight minutes. The experience connected me a lot more with the communities in Nairobi, Kibera, and Karatu, and I see so much potential for how virtual reality could bring us closer in the future. I decided right then and there I was going to get a virtual reality headset for myself to start messing around and developing for it. I stood up, walked over to the table, put the goggles down, pulled out my phone, went on Amazon.com, and bought myself a Samsung Gear VR. If you guys want to get involved as well, I suggest buying a pair or getting the much cheaper Google Cardboard, which works with any phone, or even just finding a virtual reality group near you. Theres tons of virtual reality Facebook and Meetup groups you can join.

The Body Theory And Its Strength And Weaknesses - 991 Words

Am I the same person today as I was yesterday? Will I be the same person a few years from now as I am now? Kagan explains a few theories that can help with figuring out what makes me, me. There is the soul theory, the body theory, and the personality theory. The body theory consists of the brain and body theory and the torso and body theory. After looking into each theory carefully through Kagan’s lectures, I found that there were flaws in all three theories. The theory that I favor, however, is the body theory and more specifically the brain aspect of that theory. In my essay I will discuss why I favor the body theory and its strength and weaknesses. I will also discuss Kagan’s take on survival. To start with, the body theory is not mysterious like the soul theory. If I believed in souls, and favored the soul theory, how could I prove that I did not get a new soul every five hours or three days? I would not be able to. The body theory means having the same body. This also means having most of your same body. For example, in Star Wars when Luke Skywalker got his hand cut off, he still had most of his body; therefore, he is the same person. Now there are some problems with this theory as Kagan points out. The problem is resurrection. There is no current proof of a body being resurrected from the ground, but there is a possibility of bodily resurrection that cannot be denied. The issue with bodily resurrection is that it draws the question, is the resurrected body reallyShow MoreRelatedExploring the Different Theories Involved in the Mind and Body Problem1654 Words   |  7 PagesExploring the Different Theories Involved in the Mind and Body Problem I will attempt to do this by firstly defining what the mind and body is secondly discussing what the mind and body problem is. Thirdly discussing the existing approaches to the problem and finally discussing the strengths and weaknesses of the approaches. The body is that which we perceive ourselves to be with our senses. It usually includes arms, legs a head and so on. The mind is that whichRead MoreCartesian Dualism vs Logical Behaviorism Essay1483 Words   |  6 Pageswhich argue the philosophy of the mind in two completely different ways. Robert Lane, a professor at the University of West Georgia, define the two as follows: Cartesian dualism is the theory that the mind and body are two totally different things, capable of existing separately, and logical behaviorism is the theory that our talk about beliefs, desires, and pains is not talk about ghostly or physical inner episodes, but instead about actual and potential patterns of behavior. Understanding of theRead MoreThe Biological and Sociological Explanations of Crime1303 Words   |  5 Pagesto accurately compare and contrast the strengths and weaknesses of both the biological and sociological explanations of crime. Firstly, I will give a brief overview of what both the biological and sociological explanations of crime mean. I will then create a paragraph that explains the strengths and weaknesses of the theories within the biological explanation of crime; such as Lombroso’s ‘Criminal Man theory’ and Sheldon’s ‘body type’ theory Chromosome’ theory as they are relatively controversial topicsRead MoreSutherlands Differential Association Theory1430 Words   |  6 PagesDifferential Association Theory Ryan Herron Dr. Patrick Parnaby SOC 2070 9 November 2017  There are many theories used by Sociologists to explain deviance. One such theory is differential association theory, proposed by Edwin Sutherland. There are many strengths and weaknesses of differential association that will be laid out in this paper after differential association theory is fully explained. When discussed, it becomes apparent that differential association theory has many strengths as well as manyRead MoreThe Integration Perspective And The Christian Psychology Perspective913 Words   |  4 Pagesmerge the two principles and theories is the Integration perspective and the Christian Psychology perspective. The Integration perspective is the view that incorporates and offers a theory that integrates and creates a balance between Christian doctrine and modern psychology. Characteristic of this approach is the inclusion of Christian principles and scriptural references, along with observations, research, empirical research, mathematics, and natural science theory and principles. IntegrationistsRead MorePsychology Is The Study Of The Mind And Behavior1389 Words   |  6 PagesPsychology is the study of the mind and behaviour. Since Psychology first emerged there has been ,many differing schools of Psychology each with different theories in which to understand human behaviour. In this essay I will explain the four major schools of psychology including psychoanalysis, behaviourism, biological and cognitive, and the major influences behind each such as Freud. Psychoanalysis is a school of thought first developed by Sigmeund Freud(1856-1939) one of the most influentialRead MoreTheory Analysis1707 Words   |  7 PagesTheory Analysis Sigmund Freud - Psychosexual Theory  · Basic Philosophy - The basic philosophy is that the sex instinct is the most factor influencing personality; sexual instinct is present at birth, but it occurs in stages. The sex instinct provides the driving force for thought and activity. If conflicts from these stages are not resolved fixations may occur. If overindulgence at a stage may result in a person remaining at that stage. Certain personality traits develop from difficulty inRead MoreClassical Vs. Constitutional Typology1223 Words   |  5 PagesThe first of the theories is physiological is the physiological characteristics of people. Simple descriptions of behavior through to suggestions that characteristics are the result of different kinds of physiology. Now, there are two subcategories are classical and constitutional typology. Classical typology comes from our old friends, the Greeks, who theorized about types and ‘humorous.’ The physician Hippocrates made what is probably the first attempt at a formal theory to account for differencesRead MoreCommunication Is Necessary For Society And Culture1377 Words   |  6 Pagesencodes and understands the message then replies using the same form of communication. Verbal communication uses words and speech sent in a written or spoken medium. Nonverbal communication makes up for where verbal communication lacks, using gestures, body language or facial expressions to convey a short message. Factors that affect how a message is sent or received are; family background, education level, personal life experiences, health, family situation, monetary situation, marital status, employmentRead MoreLearning With Style Essay912 Words   |  4 Pages1979 Howard Gardner started researching human potential, this research led to a book entitled â€Å"Frames of Mind† this book introduced the theory of multiple intelligences (Armstrong). The theory of multiple intelligences challenged the conventional idea that intelligence could be measured and scored by a simple test giving us an â€Å"IQ† number. (Armstrong) The theory of multiple intelligences propounds that intelligence can be found in many forms and that different learning methods are required for different

Racism in Crash Essay - 1723 Words

Physical Characteristics and racial differences are distinguishing traits that keep people in our world apart from each other. Crash is a movie that showcases prejudice and racial stereotypes. The movie is set in Los Angeles which is a city with the cultural mix of almost every ethnicity. Crash is a perfect analogy of how the different people intersect with others in society. The movie crash shows differences between the lives of different people. It displays the interactions of several multiethnic groups such as African American, Caucasians, Asians, Latinos, and Arabs. All of the groups are striving to overcome their fears as they weave in and out of each other’s lives. They are all tied by an invisible chain of events, so the movie†¦show more content†¦Matt Dillon’s character, John Ryan seems to show characteristics typical of this hypothesis. Officer Ryan displays a close connection with his father and the roots of racism is showed later in the movie. It was assumed that Ryan was a product of his environment that absorbed racist views from his father regarding his attitude towards black people. Ryan’s father happens not to be racist after all. Ryan’s attitude towards black people stems from his own experiences as a Los Angeles police officer. An example of racism occurred at the beginning of the film when the Arab looking father and daughter attempted to buy a gun. The clerk at the gun shop made a few blatantly racist comments about the customers because he assumes they are Middle Eastern. There were several references to the September 11 attacks. It didn’t matter that the two were Persian, not Arab. Unfortunately, the reoccurring theme post 9/11 is that all Middle Eastern people became potential terrorists. It is amazing that people have the ability to interpret bad events and cast their own prejudices on different ethnic groups to mask their own feelings of anger and frustration. Certain stereotypes have stood the test of time, no matter how many strides for racial equality have been made. Sandra Bullock’s character made the statement about the relationship between white and black people: â€Å"If a white woman sees two black men walkingShow MoreRelatedCrash and Racism886 Words   |  4 PagesPaul Haggis’ Crash is a drama set in the Los Angels area, the main concept of the film is racial and social tensions in L.A., Paul Haggis claims that it’s a â€Å"passion piece† due to it being inspired by a real life incident wherein his car was stolen outside a store in 1991 as he clearly states on the Crash commentary track. Now my reaction to this film was at first shocked and in awe of the brutality of the first 30 minutes. Such as Anthony and Peter’s discussion in the first few minutes aboutRead MoreRacism and Stereotypes in the Movie Crash693 Words   |  3 PagesCrash is a movie about race and stereotypes and its effects on the various people living in the Los Angeles area. The movie boost racial awareness and it requires close observation from the viewer. We see a variety of races including African American men and women, several Hispanics, a Middle Eastern family, and a few Asians. We see the ups and downs of each character and it helps us see where they are coming from, and potentially why they are racist against different people. It seems that we almostRead MoreImpact Of Racism On The Movie Crash 1257 Words   |  6 PagesThe movie Crash, demonstrates the lives of various individuals from divergent socioeconomic classes, who have life changing experiences in between their conflicting prejudices and stereotypes. In this brief essay, I am going to discuss the impact racism and stereotyping have on the lives of some main characters in the movie, considering the development of the storyline and the impact of various incidents that change their perspective towards themselves and each other. Martin and Nakayama define racialRead MoreColonialism And Racism In Crash By Paul Haggis839 Words   |  4 Pages Paul Haggis’s 2004 melodrama â€Å"Crash† is a film depicting the way diverse societies, cultures and environments affect each other’s lives. Characters are forced to interact and assist in uncomfortable and traumatic chains of events that impact the film’s ability to create intense moments that questioned are initial perspective of a character’s sense of morality. Haggis does an excellent job structuring the story around the concept of everyday life with unexpected moments of conflict, and developingRead MoreEssay on Black Like Me and Crash965 Words   |  4 PagesBlack Like Me and Crash In 1959 John Howard Griffin, the author of the book Black Like Me, disguised himself as an African American and decided to go live out in society to see what it would be like to be a black man. The book Black Like Me is his documentation of that experience. His story spread around the world and he got a lot of praise from people around the world, but he also got a good amount if hate from the white power groups who were quite prevalent at the time. Now, much time has passedRead MoreThe Film Crash By Paul Haggis1157 Words   |  5 PagesThe film Crash by Paul Haggis is a film involving issues of race and gender, which is viewed through the intersecting lives of strangers seen through an auto accident/crash in Los Angeles which opens the film. This film is trying to symbolize what goes on in the world today in regards to racism and stereotypes. Paul Haggis tries to make a point on how societies view themselves and others in the world based on there ethnicities. This movie intertwines several different people s lives, all differentRead MoreUndeniable Thought(Film Crash) Essay1212 Words   |  5 PagesDiamond Ward Sociology 2060-01 Film Analysis #1 February 7, 2012 Undeniable Thought The film Crash by Paul Haggis is a film involving issues of race and gender, which is viewed through the intersecting lives of strangers seen through an auto accident/crash in Los Angeles which opens the film. This film is trying to symbolize what goes on in the world today in regards to racism and stereotypes. Paul Haggis tries to make a point on how societies view themselves and others in the world based on thereRead MoreThe Opening Line Of The Movie Crash Essay1734 Words   |  7 Pagescity, you walk, you know? You brush past people, people bump into you. In L.A., nobody touches you. We’re always behind this metal and glass. I think we miss that touch so much, that we crash into each other, just so we can feel something.† This quote, spoken by Don Cheadle, is the opening line of the movie Crash. Not only does this powerful line tell the viewers where the movie is taking place, but it also gives them a brief overview of what to expect from the movie. As citizens of this countryRead MoreCrash1243 Words   |  5 PagesCrash Movie Analysis Anjelica McCartney HUM/150 January 18, 2016 Victor Armenta Crash Movie Analysis Discrimination, racism, classism, prejudice and more plague today’s society. These horrible issues do not affect one race, sexes, class, ethnicity, or age group; these issues affect all races, both genders, all ethnicities, and all age groups. For this film analysis, I have chosen to discuss the racism portrayed throughout a three-time Oscar award winning movie called Crash. Summary PaulRead MoreCultural Aspects Of American Culture1345 Words   |  6 Pagesthat I observed in the movies are assimilation, acculturation, and enculturation. I saw assimilation in both Spanglish and Crash. In Spanglish, Cristina was the one who went through assimilation. She adapted the American culture and left behind her Hispanic culture. She learned English, Mrs. Clasky took her shopping, and she was able to go to a private school. In the movie Crash, assimilation is seen through all the different people who have adopted the American lifestyle. One example for this is Farhad

Movie Review The Abnormal in Normal Free Essays

Normal is a spectacular movie which encompassed both a war and unity of emotions, standards, and ideologies. It showcased the play of sexuality, understanding, anger, transformation, ostracism, and most especially, love, depicted in the lives of the characters that compose the film. How all of them owned a different perception of Roy’s transsexualism and how these perceptions seemed to be intertwined dramatically revealed the key element that make up Normal’s core. We will write a custom essay sample on Movie Review: The Abnormal in Normal or any similar topic only for you Order Now Personally, I found the movie very moving and inspiring. It is not everyday that films like these are produced in the industry for the obvious fact that transsexualism, not to mention heterosexuality and bisexuality, is still on the process of holding a secure, firm, and properly recognized position in society. Normal was successful in its attempt to disband stereotypes regarding deviant behavior and twisted genders. It portrayed how acceptance and love serve as the main dissolving agent in breaking norms in response to the changes that occur in time. Roy, one of the main characters, was extremely daring and determined to have mustered strength to face such an immense transformation and survived the critical judgment of his family, peers, and community fellows. Containing his desire to be a woman solely to himself for that length of time is something not regular people could ever put up with. The weight was even graver, however, on her wife Irma. In my opinion, she was the one who suffered most with what had happened. After 25 years of marriage, two teenage offspring, and a healthy relationship which was supposedly homosexual-to-homosexual, her husband tells her that he is a woman trapped in a man’s body and that he wanted to live like a lady for good through gender reassignment. Discovering that the man she fell in love with was replaced by someone with a heart of a woman would have been the key struggle in Ruth and Irma’s marriage. Eventually, nonetheless, Irma learned to embrace Roy for who he is—the man he loved yet now with earrings, perfume, make-up, and even breasts. This was a strong proof that true love does conquer all and breaks differences. The occurrence tested if Irma was really willing to stay with Roy and to love him with all her heart, through sickness and health, for richer or poorer, with death as the sole wall that could separate them. The relationship of the couple evidently changed, but the love was still the same. This served as their starting point to both reliving an old chapter of their life and opening a new one together. Patty Ann and Wayne, the couple’s children, were also affected by Roy’s revelation. Albeit their reactions were of opposite sides of the spectrum, these showed that they significantly cared about what happened to their father. Dealing with his kids, however, remained as another struggle for Roy. Patty Ann took his father’s transformation in a positive light since she, too, was having a puberty and femininity crisis of her own. On the other hand, Wayne was infuriated. Being older, being the son, and being a hardcore rock music enthusiast, it was not peculiar that Wayne’s mind seemed to be very narrow when it came to gender issues. The main character’s father also played a weighty part in Roy’s family struggle. Like Wayne, Roy Sr. strongly disagreed with what occurred to his son. During Roy’s early years, his father had already begun beating Roy to stop his feminine tendencies. His paternal influenced continued until Roy’s adulthood but failed to maintain his son’s manliness. Together with his wife Irma, Roy struggled to face another conflict with an influential and important body outside their marriage: society. His revelation to the parish counselor initiated the ostracism that Roy encountered from the religious sector. This banishment was in line with the Vatican’s dissent for gender changes. Though external to the scope of the movie, the Papal government most likely inspired the story’s plot. According to Asher (2003), gender reassignment shall not in any way change the gender of an individual in the vision of the church. Moreover, Catholics who underwent this kind of transformation shall not be â€Å"eligible to wed, be ordained to the priesthood or enter religious life† (par. 2). Gender reassignment merely changes the surface quality of the person and not his/her inner attributes and personality. These were the strong bases of Roy and Irma’s gradual but unyielding exclusion from the religious sector. Roy also had problems in his work. He served almost his whole life as an employee in a farm machinery factory. Going to work one day all â€Å"womanized† expectedly brought in mockery from his coworkers. Roy’s boss, Clancy Brown, was compassionate enough to transfer him to a safer and more considerable work section. However, he developed affection for Irma, which pushed Roy’s work struggle to a higher notch. Fortunately, Roy’s wife realized that he was in love with no man other than his beloved husband. This dedication, loyalty and commitment of Irma to Roy were what captivated me to the movie the most. These same attributes of Roy’s wife are the reasons why she is my favorite character. Like what I have mentioned before, Irma exemplified the power of true and powerful love. More than that, however, is Irma’s commendable courage to continue to walk with his husband, no matter how things have changed. Remarkable courage was also exhibited by Roy. Personally accepting that he was a woman in a man’s body is already a valiant feat. Adding his revelation to his family and community during the period of his life when all was settled for him as a man can be considered a lifetime accomplishment. Not everyone who is gay, lesbian, or both can muster the willpower and inner strength that Roy depicted. Not all irregularly gendered can face life with the truth that they know deep within them. There is this strong feeling inside of me that the movie Normal will forever hold a special place in my life. It taught me so many things about accepting changes and living with what and who matters in your life. Just be strong and all things will follow. References Asher, J. (2003, January 16). Vatican Will Not Endorse Gender Changes. Retrieved April 7, 2008 from http://www.planetout.com/pno/news/article.html?2003/01/16/3          How to cite Movie Review: The Abnormal in Normal, Essay examples

Evaluation of Taxation of Return on Property Holding

Question: Discuss about the Evaluation of Taxation of Return on Property Holding. Answer: Introduction This report discusses effect of taxation on return from property holding in an economy. The economy Effect of taxation on equity and housing prices are analysed. Taxation on property return affects the economy. Property tax is a source of income of government. Hence, if property tax increases, tax revenue increases. Property tax is regarded as cost of capital (Norregaard 2013). When, government increases the property tax, cost of capital increases. Therefore, reduction in property tax increases the capital investment. As the capital investment increases, industry develops and the more jobs are created. On the other hand reduction in tax revenue decreases government spending. The mixed effect of property tax on economy is discussed in this report in the Australian context. Property tax depends on the value of the property at a certain point of time. Different types of property valuation methods are used in different jurisdiction. Decrease in property value reduces the tax bill. Furthermore, property tax bill varies according to the usage of property such as residential use, commercial use, vacant land etc. In some areas the real estate tax bill is calculated on current value (Burkhauser et al. 2015). Therefore, the tax bill changes as the value of the property changes overtime. Generally, local government collects property taxes. Hence, property tax law is formed based on local economic structure. Evaluation the system of taxation on property holding returns Assessment of taxation on owner occupied property Land is considered as property in the economy. As land is inelastic in supply, effect of price on supply is low. Therefore, imposing tax on land does not impact much on behaviour of land suppliers. In case of owner occupied land, it is easier to identify the actual tax payer. The return on land is considered as economic rent. Land tax in Australia is charged to the owner of land. As opined by Jacobs and Berry and Dalton (2013), the utility of house is different from the land. Land taxes differ across different states of Australia. Land Tax in New South Wales Tax Base, (AUD) Tax rate Up to 412,000 AUD 100 412,000 -2,519,000 1.6% on band over ADU412,000 Over 2,519,000 25 on all value over ADU 2,519,000 Land tax in Victoria (2009-2014) Tax Base, (AUD) Tax rate Up to 250,000 0% 250,000 600,000 0.20% on band over 250,000 600,000 1,000,000 0.50% on the band over 600,000 1,000,000 1,800,000 0.80% on the band over 1,000,000 1,800,000 3,000,000 1.30% on band over 1,800,000 Over 3,000,000 2.25% on all value over 3,000,000 Land tax (2014-15) in Australian territory for residential properties TAX BASE, AUD TAX RATE Up to 75,000 0.41% 75,000 150,000 0.48% on band over75,000 150,000 275,000 0.61% on band over 150,000 Over 275,000 1.23% on all value over 275,000 Figure: Land Tax rate in different territory of Australia (Source: Ato.gov.au, 2016) Unlike land, a house gives service to the occupiers. Thus, VAT can be imposed on the services of house. In the view of Whiteford (2014), the value of houses fluctuate overtime just like share values. Hence, the home ownership can be considered as saving. As the owner occupied property has characteristics of both investment and consumption, it needs to be taxed from the two ends. If there is decrease in value of land, the land owner may suffer from capital loss, if the land tax would have been declared before. However, in practical, the value of land is non-decreasing as its supply is naturally fixed. Hence, use of land is not likely to be changed after windfall loss. Slack and Bird (2014) cited that, there is externality effect on owners land. If there is external development besides a land, the value of the concerned land increases. In this case, the value of the land increases due to community efforts rather than individual effort. Tax collected from the land thus includes the bene fits accrued by the landowner. Assessment of taxation on investment property Investment property is the property, which is purchased in the motive of profit earning. Rental income is a source of income from investment property. Rental income is taxable at the time of receiving it during a given period. Sale of rental property comes under capital gain or loss. Capital gain on investment property is liable for tax. In Australia, the investment property, building renovation due to profit motive and property used in business are taxed as capital gains tax or goods and service tax (Australia I.C.O.M.O.S. 2015). During the calculation of tax on the capital gain, cost of financing the acquisition and end use of the property needs to be considered. The capital gain from selling property gets tax exemption if gained amount is reinvested in an asset. The amount of tax depends on the time of selling investment property. During valuation of capital gain, difference between initial purchase price of the property and selling price renovation cost and transfer costs are considered (Coffee et al. 2013). Capital gain tax in Australia is calculated by using CGT method and Indexation method etc. Net capital gain is calculated by subtracting total capital loss and any CGT discount from total capital gain during a year (Ato.gov.au, 2016). In Australia, the capital gains tax is charged at standard income tax rate. In the capital gains tax method, capital gain is calculated by deducting cots base from the fair market value of property. The cost base includes acquisition cost of property, incidental expenses of purchase and sale of property and property improvement cost. Cost base cannot be calculated if the property is sold within one year of purchase (Elia et al. 2013). The property indexation method depends on date of purchasing property. There are two criteria of measuring capital gains in Australia. If residents have acquired the property after 21 September in 1999, the discount capital gain or unindexed capital gain is decreased by 50%. Therefore, the capital gain, which is taxable, is 50% of the cost base. The cost base of the assets, which were acquired before 21 September 1999, was indexed as per fluctuation of the CPI in Australia. Effect of taxation on equity Capital gains from stocks and mutual funds are taxed if the income is generated in short term. Long term return from equity is not taxed. Implication of tax is not applicable at the time of investment in shares. Tax is imposed at the time of sale of assets (Crowe 2013). As the public investment is mobilised in the economy for investment in different sectors, it is exempted from tax. However, income generated from sale of assets is liable to be taxed as if it is capital gain. In Australian economy, the repayment for mortgage on housing loan is liable to be taxed (Baranska 2013). The interest earned from the investment property is tax deductible. Equity is taxed if it is used for funding the purchase of investment property. Loan to value ratio and debt service ratio are used in evaluating the effect on equity. Investment in different types of property has different types of risks and values. Therefore, the loan to value ratio differs for different types of assets (Shi and Jou and Tripe 2014). Banks of Australia accepts up to 80% loan to value ratio for residential property and 60-70% for the commercial properties. If the borrower takes a mortgage insurance policy, the lender generally accepts a higher LVR (Chung 2016). The value of equity is therefore calculated as follows. If for example, the current value of property is $800,000 and the mortgage on home is $450,000, then the value of equity on property is $800,000 - $450,000 = $350,000. Now, if the investor finds an investment, which is worth of $500,000, the investor would try to get a loan of same worth. Now the LVR for the investor = ($450,000 + $500,000)/ ($800,000 + $500,000) = 73.08%. As the maximum criteria for the LVR is 80%, the investor will pass in the security criteria. Therefore, the bank may grant the loan to the investor for purchasing the investment property using the equity. The return on equity falls under the capital gains tax (LeBlanc and Matthews and Mellbye 2013). Hence, the standard income tax rate is applicable for the equity. Dividends on equity of a company fall under the corporation tax in Australia. The corporation tax rate in Australia is 28.50%, which is effective from 2015. Moreover, the tax on capital gain depends on whether the property is held on capital account or revenue account. If the property is included in the revenue account, the gains from disposal are calculated with the income of the owner (Peng and Chen 2016). The tax rate on income would be as per owners tax rate. If the property is held in capital account, the net capital gain is added wit h the income of the owner and taxed according to the owners tax rate. Effect on housing prices The housing price in Australia is influenced by the increasing value and cost of the assets. As investment in house is a source of income, return from investment property determines the demand for house (Sim and Krause and Winson-Geideman 2015). The housing prices in Australia have increased at 7% per year. The rising housing price in Australia can be explained by Stock flow model. Figure: Residential property prices in Australia (Source: abc.net.au, 2016) Figure: Growth in housing prices in Australia (Source: rba.gov.au, 2015) Stock flow model According to the stock flow model, demand for housing property is negatively related to the user cost of acquiring the property and property price (rba.gov.au, 2015). However, demand for housing is positively related to rent. There are other factors such as permanent income of the households; availability of credit etc affects the housing demand. The user cost of house ownership depends on real interest rate, asset depreciation and appreciation of housing price. Differences in tax structure for owner occupied and investment property also influence the demand for housing (Forrest 2013). Figure: Relation between the property price and property demand (Source: created by author) In the short run, the demand for housing changes frequently compared to supply of house. The demand pull inflation raises the price of the house In Australia. Increasing access of credit in Australia is the cause of increasing demand and prices of housing. Despite increasing rent, the demand for housing is rising in Australia, as the income of the people has increased substantially over the years (Randolph and Pinnegar and Tice 2013). However, there is a fall in residential property prices in Australia from 2015 to 2016. Figure: changes in housing price in Australia (Source: abs.gov.au, 2016) Effect on Australian economy According to the recommendation of tax review committee, the government of Australia can impose levy of 0.2% on unimproved value of property or may impose 0.1% on value of improvement on annual basis (abc.net.au, 2015). As per reporting, the actual amount of tax on property would be more than the average payment by the residents of the capital city. The report says that imposition of tax would raise the levy by $7bn at the current property price. According to Ferrero (2015), property tax is unavoidable. It is an inevitable part of spending for home owner, as property tax is wealth tax. Property, which is in use, gives service to the user and therefore is liable for GST tax in Australia. There is little impact of property tax on savings and incentive to work. Property tax is a significant source of earning of states. Moreover, property such as building and land is immobile in nature and the demand for real estate is rising with population growth (Paris 2013). Therefore, the prices of property tend to rise. People cannot shift immediately to avoid property taxes. Thus, property tax remains good source of revenue of state government. States and Australian territory on purchase of property levy stamp duty in Australia. Stamp duty rises with increase in property price (Ferrero 2015). Increase in stamp duties discourages people to purchase property and restricts the efficient use of property such as land and buildings. Grattan Institute of Australia has suggested that, the revenue of the States may increase if stamp duty can be abolished. Increase in revenues is beneficial for state, as it can use the revenue in improvement of society (Cesa Bianch, Cespedes and Rebucci 2015). Investment in property increases capital of the economy, which is further used in any productive purpose. Effect on society According to World Economic forum report, taxation on housing has mixed impact on consumer spending. Taxes on main dwelling have negative impact on household expenditure. Taxes on residential property have no significant impact on household expenditure. When mortgage debt burden increases, the household reduces their savings. As an impact, total disposable income of individual decreases. Fall in disposable income decreases consumer goods demand of people. Therefore, it may affect the aggregate demand of the economy (weforum.org, 2015). Decrease in consumer spending is regarded as short run cost in the economy. Lower property tax rate encourages the urbanisation in the economy. Rapid pace of urbanisation has positive externality on the surrounding land. Effect of fiscal policy on housing market Fiscal policy of the government can affect the housing market in terms of demand and housing prices. Taxation on property is fiscal policy of the government. Market analysts have predicted that due to effect of Brexit, Australian real estate market will gain from foreign investment. Global investors find it is risky to invest in UK and European market due to after effect of Brexit. Therefore, they tend to invest more in Australian real estate market. Chung (2016) argued that, government fiscal policy may be counter effective in this case. NSW government has taken decision to impose 4% stamp duty on the purchase of residential property by foreign investors. Furthermore, 0.75 % land tax would be imposed on the foreign investor, who owns a residential real estate in Australia. This surcharge is more in Victoria, which is 1.5% to make the real estate market costlier (news.com.au, 2016). This government policy may discourage foreign investment in domestic housing market in Australia. Redu ction in tax cut has positive effect on demand for housing. However, it has negative effect on property investors. Cut in housing prices reduces the capital gain on investment property. Due to lowering interest rate, the revenue of the government has decreased from $8.4 billion during 2011-12 to $3.7 billion in 2013-14 (theaustralian.com.au, 2016). Supply of housing depends on availability of land, cost of construction, profit of the developer and other infrastructure cost such as water, sewerage and transport facility. Demand for housing depends on number of households searching for land, location, transport, income of the households etc. If the government increases the spending to provide better social infrastructure, demand for housing tends to rise. Explanation of circular flow of income Circular flow is a concept, where activities of different economic agents are linked through a circular flow. Main agents of the circular flow are producer, households, goods market and factor market. Figure: circular flow of income (Source: created by author) Investment property such as land, commercial premises comes from households. Property sold to the commercial firm, banks or government earns capital gains and rent. Government impose tax using fiscal policy on the rental income. Tax revenue is thus received by government. The tax revenue is further used in economic development. The investment properties are used by different organisation for productive purpose. Final produced goods are received by households through product market. On the other hand banks play important role of resource mobilisation in this sector. Household saves money in banks. Banks mobilise the saving across the economy. A household goes to the bank for getting loan to invest in property. In return, the borrower pays interest rate to the bank. In this way, different agents in the economy are linked with each other. Recommendation Property tax has effect on consumption behaviour of people. In one hand, it is source of revenue to the local government. A better way of property taxation is comparison of property tax with market value of property and not with the GDP of the economy. Inequality in property tax rate decreases the revenue. Property valuation is a complex issue. Therefore, appropriate tax on property needs proper infrastructure. Due to inelasticity of the supply of property and growing demand for land and building, the property price in Australia has growing trend. Demand for supply is growing for residential and commercial purpose. Property tax has both equity and efficiency implications. Therefore, it can be recommended that for proper taxation, property identification, collection of revenue and enforcement are needed. Tax payer may support the government in the context of tax payment if they can feel that they receive required service for property tax from the local government. Conclusion The report has analysed the implication of property tax and its impact on Australian economy. Two types of property such as owner occupied and residential property are evaluated here. Land tax differs across different state of Australia. Different land tax has mentioned in the report. CGT method and Indexation method are used in calculation of capital gain tax in Australia. Capital gain in Australia is taxed according to the standard income tax rate. Taxation on equity has been discussed in the report. Housing price in Australia has a growing trend. As property tax base increases, price of housing increases. Rising housing prices has not much impact on property demand. However, hike in stamp duty has negative impact on property demand. References abc.net.au. (2015). Property taxes could raise $7b, boost economy by $9b: Grattan. 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