Pharmacy as a Career Essay Example for Free

Pharmacy as a Career Essay One of the most dynamic industries in health care is pharmacy. I chose this career because it provides various outlets for professional growth, excellent financial gains, and the opportunity to take care of people all the time. As the â€Å"medication expert on the health care team,† my task is to manage the medication therapy of patients and clients by providing information and advice as well as improving the quality of their lives. In addition, I picked this line of work since it is one of the most accessible health care professionals. New challenges come each day as pharmacists assist patients with their health care needs in terms of medications. Coincidentally, I live in a city where health care demands are high and the standard of living is extreme and active. In this set-up, a career in Pharmacy offers enough resources, opportunities, and flexibility needed to maintain balanced health care career and fulfilling personal life. The fact that you have to deal with different types of people and personalities is interesting and stimulating. What is great about this profession is the lifetime learning as well taken from institutions and everyday actual experiences. Continuous education allows for professional and personal development in all aspects. A degree in Doctor of Pharmacy allows for better positions and job offerings in health care facilities in both immediate and long-term basis. It will also give me the break of exploring other fields such as teaching or publishing written works in educational institutions. Practice in Pharmacy can also be privatized. This further study in Pharmacy will offer me more options for other careers which are all equally motivating and inspiring.

James Fenimore Cooper :: Essays Papers

James Fenimore Cooper James Fenimore Cooper was born in Burlington, New Jersey on September 15, 1789 to William and Elizabeth Cooper. He was born the eleventh of twelve children. When James was one year old the family moved to the frontier of Lake Otsego, New York, and his father established the settlement of Cooperstown at the head of the Susquehanna River. Cooper attended a private prep school in Albany, New York, and was then admitted to Yale in 1803. He was expelled during his junior year because of a prank. His family allowed him to join the navy, but he soon found that more discipline was present in the Navy than at Yale. In 1810 Cooper took a furlough, and never returned to active duty. James Fenimore Cooper married Susan De Lancy in 1811, and for the next ten years he lived as a country gentleman. However, after the death of all five of his elder brothers he became responsible for supporting their widows and paying their debts. He then found out that his father's estate had not been worth as much as originally thought. In 1820 Cooper published his first fiction, Precaution, on a challenge from his wife. This novel was largely unsuccessful. In 1821 he published his second book, The Spy, which was modeled after Sir Walter Scott's "Waverly" novels, except it was set during the American Revolution. The Spy brought Cooper international fame and a certain amount of wealth. Cooper's third book, The Pioneers, was the first of five novels that made up the Leatherstocking Tales. These were immensely popular frontier novels featuring a frontiersman by the name of Natty Bumpo, or Hawkeye. The Pioneers is generally considered to be the first truly American novel. The five novels of the series were not written in their narrative order, and were produced over a period of eighteen years. Cooper and his wife had five children, and they lived in Europe from 1826 until 1833 for the education of their children. When Cooper returned to America in 1833 he found he was rather unpopular due to his works Notions of the Americans and Letter to General Lafayette, which he had written while living in Europe.

The Human Cost of an Illiterate Society

Response to â€Å"The Human Cost of an illiterate society† 1/30/2011 In â€Å"The Human cost of an illiterate society,† Jonathan Kozol attempts to convince his reader that illiteracy is extremely harmful to a society, and that it is the ultimate destruction of a human being’s life. He explains with great detail how being ignorant (unknown) at something so universal like being able to read the directions on a medicine label, can lead to a lifetime of hardship and long term agony.Kozol develops his reasoning by contributing meaningful but real world examples on how being illiterate is dangerous and fatal. For example He uses not being able to explain where you are if something fatal was to happen, and not being able to understand the dangers of a cigarettes label with a surgeons warning on it. After giving a plenty load of examples, he then brings the discussion back to his central argument on how being illiterate can be costly. When a person does not understand wh at they have wrongfully done it can be difficult to prosecute or judge that person.If he is not able to read then that person might not be aware that giving a child too much aspirin could result in overdose which can ultimately lead to death. The question that still remains is should that person be held accountable. According to today’s society the answer is still unknown but to protect the people of this society from that illiterate person, the answer is yes that person must be limited. What this ultimately means is that, he must be kept from society so that he won’t cause harm for his on ignorant habits.He will have to be watched, fed, and kept in an environment where he will always be stable. This top of living can cost a lot of money and this is the financial burden that cost a society so much money. In a way this is unfair because it is not this person’s fault that he can’t read, understand, and think critically. Illiterate people will always be in t he dark, and they will always struggle with trying to figure out the differences between what’s wrong and what’s right.

Iliad And Odyssey Essay - 1796 Words

The views and beliefs of societies are often portrayed in the literature, art, and cinema of a certain era. The epic poems, The Iliad and Odyssey, give scholars and historians an idea how the Ancient Greek lived their everyday lives. By reading the two quot;novels,quot; the reader is able to experience the three thousand years old society of Homer. The various similarities between our society and the societies depicted in the Iliad and the Odyssey are surprising profuse. To name a few: the superfluous violence in Iliad and Odyssey, the characterization of Odysseus, the obscure use of narcotics, the similarities between Catholicism and certain stories of the Odyssey, and the role of pets and animals. Despite the numerous similarities,†¦show more content†¦181. Then the description of the blinded of Polyphemus: quot;and when that stake of olive-wood, though green, it was glowing†¦and then they clasped the pointed stake, and drove it into his eye, twirling the burning hot point deeper and deeper into the eye.quot; Pg. 181. I could not help it, but when Odysseus returned to Ithaca, it reminded me of a Jerry Springer episode. Near the end of book XVIII, Odysseus is engaged in a verbal argument with Eurymachus; during the argument Eurymachus actually throws a stool at Odysseus! A scene like that has never happened on American TV before. In book XXII, Odysseus kills at least nbsp;nbsp;nbsp;nbsp;nbsp;seven men. nbsp;nbsp;nbsp;nbsp;nbsp;In the Odyssey, the main character, Odysseus seemed to be quot;un-touchable.quot; Odysseus survived the Trojan War, shipwrecks, the raid on the Cicones, The lotus eaters, and the Cyclops. Not to mention the encounter with Hades and the battle with the suitors. Like American quot;popquot; culture, the hero is rarely killed, but rather slightly injured. Rambo, James Bond, Matlock, Magnum P.I., and Odysseus all have the same characteristics: astute, subtlety, self discipline, strong, but not necessarily adheres to the heroic code of conduct. All of these characters adapt their behavior to the circumstances in which he finds himself, although always retaining a realistic conception of his self-interest and his ultimate goals.nbsp;nbsp;nbsp;nbsp;nbsp; All five characters haveShow MoreRelatedThe Iliad And The Odyssey1060 Words   |  5 Pagesâ€Å"Hateful to me as the gates of Hades is that man who hides one thing in his heart and speaks another.† (The Ilia d pg.405) The quote is relevant to the stories Homer created during the period of the Trojan War. Homer orally performed two of his best works The Iliad and The Odyssey. Homer’s stories are old and probably translated differently than their original telling. Homer’s The Iliad and The Odyssey still show the basic human emotions and are an inspiration to other authors, poets, and oral presentersRead MoreThe Iliad and the Odyssey1510 Words   |  7 Pages The Iliad and the Odyssey are two classic stories told by Homer. Within these two stories the roles of the gods are very important to the story line and how they affect the characters throughout. In the Iliad, more gods are involved with the characters whereas in the Odyssey there are only two major gods that affect two major characters. The roles of the gods in the Iliad are through two different stances of immortal versus immortal and mortal versus immortal. The roles of the gods in the OdysseyRead MoreThe Iliad And The Odyssey1317 Words   |  6 PagesThroughout The Iliad and The Odyssey, both Achilles and Odysseus go through intense acts of heroism, internal and external hardships, and fluctuations in confidence. During the epic, The Odyssey, the main character, Odysseus, has to endure many hardships which show. He has to show tremendous amounts of heroism and confidence just to keep his crew and himself alive. He has to rival and face many gods that despise him along with many humans. This theme can also be reflected from Homer’s The Iliad, where theRead MoreThe Iliad And The Odyssey1297 Words   |  6 Pages2. The Iliad and the Odyssey were written by a poet or poets known as Homer. They were stories written about heroes in Mycenaeans times. Homer focused on one important event to base the stories after, the Trojan War. The story was about Paris Prince of Troy, taking Helen of Sparta from her husband. A war started to get Helen back to her husband because her husbands honor was hur t. The story told in the Odyssey is one of the king of Ithaca trying to return to his wife and son after being gone forRead MoreThe Iliad And The Odyssey977 Words   |  4 Pagesplot or storyline, or the theme of the myth. Homer’s The Iliad and The Odyssey are two prime examples of this. Within both epics, the gods constantly intervene in the lives and situations of the characters, molding them to the desired outcome. Without the influence of the gods in either of the epics, however, the ending might have been very different. There was a great deal more divine intervention in The Iliad in comparison to The Odyssey, however, as there were more godly characters in that textRead MoreThe Odyssey And The Iliad1060 Words   |  5 PagesHomer was one of the first great authors in Western culture. He was known for creating the two Greek epics The Odyssey and The Iliad, which. The Odyssey tells of the ten-year journey by Odysseus to Ithica from Troy to be reunited with his beloved wife. The Odyssey was written in a with illustrative language. The Iliad was written in a. It depicted the end of the Trojan War and the siege of Troy. This event occurred centuries before Homer was assumed to have been born. Although both epics were writtenRead MoreThe Iliad And The Odyssey1599 Words   |  7 PagesIn The Iliad and The Odyssey, Homer has different portrayals of the roles that women play in each epic. These d ifferences are so striking that some readers have even argued that there is a possibility that a woman could have created The Odyssey, modeled after Homer’s Iliad. In The Iliad we see women represented as war prizes and slaves, vulnerabilities to men, and in positions of limited power. In The Odyssey however, we see women capturing men and keeping them as prizes, rising from a status ofRead MoreThe Iliad And The Odyssey1657 Words   |  7 Pagesduring the Greek Dark Ages was Homer, who I believe was the most influential writer of his time, and a writer who had truly made an impact on the evolution of Greek Culture following the Dark Ages. Two of Homer’s most famous poems were the Iliad and the Odyssey, which were Ancient Greek epic poems which covered a couple of weeks during the Trojan War. Although there were plenty of influential authors inspired by the Trojan war, Homer was by far the most influential; Nevertheless, This paper arguesRead MoreIliad and Odyssey1825 Words   |  8 Pagesand cinema of a certain era. The epic poems, The Iliad and Odyssey, give scholars and historians an idea how the Ancient Greek lived their everyday lives. By reading the two novels, the reader is able to experience the three thousand years old society of Homer. The various similarities between our society and the societies depicted in the Iliad and the Odyssey are surprising profuse. To name a few: the superfluous violence in Iliad and Odyssey, the characterization of Odysseus, the obscureRead MoreThe Iliad And The Odyssey1730 Words   |  7 Pagesonce said â€Å"In youth and beauty, wisdom is but rare!† a very relatable quote to the story of the Iliad. But who exactly is Homer? For starters, Homer was a poet who lived from 800 B.C.E and died in 701 B.C.E. He was from Greece, and to be specific he had lived somewhere along the coast of Asia Minor according to biography.com. Also, he is most famous for his epic poems which were The Iliad and The Od yssey. Now as for whether he truly existed or not is still quite a mystery. Some scholars â€Å"believe him

The Nonthreatening Rise of China Essay - 1966 Words

For the past twenty-five years, China has witnessed an overall increase in its domestic growth (Fischler 148). According to the article, â€Å"The Rise of China as a Global Power,† by Dr. Rosita Dellios, China â€Å"is the worlds fourth largest trading nation, rising from 32nd in 1978 to 10th in 1997.† Similarly, China’s GDP is also second to the United States of America, generating 13 percent of the world’s output (Dellios). Since China’s introduction into the World Trade Organization in December 2001, its average tariff dropped from 41 percent in 1992 to 6 percent in 2001, becoming one of the most open economies in the world (Dellios). China is also the world’s fastest developing economy, obtaining an annual growth of 9.5 percent through foreign†¦show more content†¦According to Mark Borthwick, â€Å"its combined population and physical domain have not been equaled by any other nation.† Correspondingly, with impressive geogr aphic dimension and civilizational power, China is easily able to ascertain a stabilizing influence. Therefore, after decades of exerting only modest influence, China is now a greater regional actor in Asia (Saunders 127). Rendering from the article, â€Å"The Rise of China as a Global Power,† â€Å"the rise of China could represent an alternative to American global dominance. Whether this alternative is a form of complementary balance like the Chinese yin-yang symbol, or a dangerous competition for global hegemony, has remained a matter of debate.† Nevertheless, according to the source, â€Å"China’s Role in Asia,† by Phillip C. Saunders cited by Shambaugh and Yahuda, â€Å"China’s regional security strategy and a range of diplomatic, military, and economic assurance measures have had a significant impact in easing Asian concerns about a strong China† (127). Furthermore, Asia has generally shifted from observing China as a threat to viewing China as a prospect, with Japan being the exception to this trend (Shambaugh and Yahuda 127). Therefore, the rise of China is not a threat to Asian stability as noted in China’s political regime, military, and economy. First of all, the rise of China is not only nonthreatening but also beneficial to Asian stability through its politicalShow MoreRelatedIs American Power A Decline?1050 Words   |  5 PagesIs American Power in decline? The debate over America power is one that is extremely relevant today, especially following this month’s revelation by the International Monetary Fund that China has just overtaken the US as the world’s biggest economy (Fray 2014). The two articles, ‘Is the United States in decline—again?’ (Cox 2007, pp. 643–653) and ‘The empire writes back’ (Williams 2007, pp. 945-950), take very different views on the state of America’s influence in the world today. Realists believeRead More Increased Interdependence in the East Asian Community Essay example1059 Words   |  5 PagesThese common challenges and complementary resources call for mutually beneficial cooperation and exchanges, not only in the economic realm, but also in the political, security, environmental, social, cultural and educational arenas. The rapid rise of China and its increasing influence in the region has been a source of friction and concern for its neighbors b ut has also raised the possibility of imagining an Asia that is less centered on the U.S. China’s growing economy could entail a rebalancingRead More The Impact of Morality, Religion, and Law Upon Advertising Essay examples5091 Words   |  21 Pagespuzzling. This form of quasi-erotica is mostly found in mens and fashion magazines, but the introduction of sexual violence into the mainstream press and MTV videos suggests that some people, including women, find this type of display appealing and nonthreatening. Sexual violence may represent fantasy and not be considered as undermining seriously the position of women in society. Still, the growing awareness of battered wives and raped women may well turn sexual violence in advertising into a major issueRead MoreHuman Resource Planning Recruitment7002 Words   |  29 PagesCorporation has reaped benefits from HRP. The price of Japanese yen is a strong indicator for Matsushita’s demand for labor, because a high price mak es their product exports more expensive. In 1988, anticipating a rise in yen price, they opened export centers to produce TVs and air conditioners in China, Malaysia, and the United States. These goods were unaffected by the rising yen and, given the accuracy level of their forecasters, these export centers have been doing a very profitable business. Read MoreSports17363 Words   |  70 Pagesthe questions you will ask. This first sheet is called â€Å"Directions,† and you should put the number and name of the Olympics under that. Use it as a template. 28 EXERCISES IN SPORTSCASTING Directions XXIX SUMMER OLYMPICS AUDIENCE SURVEY, BEIJING, CHINA, 2008 This survey is to be undertaken during the showing of the 29th modern Olympic Games, the Beijing Summer Olympics in 2008. NBC will air the Games, beginning with three-hour opening ceremonies and continuing from August 8-24. Most of the coverageRead MoreSports17369 Words   |  70 Pagesquestions you will ask. This first sheet is called â€Å"Directions,† and you should put the number and name of the Olympics under that. Use it as a template. 28 EXERCISES IN SPORTSCASTING Directions XXIX SUMMER OLYMPICS AUDIENCE SURVEY, BEIJING, CHINA, 2008 This survey is to be undertaken during the showing of the 29th modern Olympic Games, the Beijing Summer Olympics in 2008. NBC will air the Games, beginning with three-hour opening ceremonies and continuing from August 8-24. Most of the coverageRead MoreFundamentals of Hrm263904 Words   |  1056 PagesISSUES: Team Performance Appraisals 250 Rate Selectively 251 Train Appraisers 251 The Performance Appraisal Meeting 251 International Performance Appraisal 253 Who Performs the Evaluation? 253 Evaluation Formats 253 DID YOU KNOW?: Performance Metrics in China 254 Summary 254 Demonstrating Comprehension: Questions for Review 255 Key Terms 255 256 HRM Workshop External Factors 272 Geographic Differences 272 Labor Supply 272 Competition 272 Cost of Living 272 Collective Bargaining 273 Communicating withRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesincreased their training activity, the chances were much, much better that they were going to increase their operating profits and that they were going to increase their shareholder value. Product quality, market share, and productivity all tend to rise as training budgets go up. Companies that don’t make the investment are apt to see disappointing results. (Greenberg, 1999) More than thirty years ago, Mintzberg (1975) made a similar point about the curriculum needed in business schools. Things have

The Death Penalty Is Justified - 1603 Words

THE DEATH PENALTY Many nations have criminals to punish, but what’s changing is how they punish their criminals. Most countries, even some states, have come to the realization that the death penalty is an unfair, inhumane, unconstitutional, and irreversible punishment that’s much too severe and is an unfit punishment for a fair and just society. Internationally, the U.S. ranks fifth in terms of the number of prisoners put to death, putting America in such ill-esteemed company as the regimes of China, Iran, North Korea, and Yemen. Not only is the death penalty wrong, but also it’s unfair to. Each state has their own laws when it comes to the death penalty, some states don’t even have the death penalty as an option anymore. If we’re going to have a death penalty it should be a national law and have national requirements for such a punishment, instead of individual state laws that differ in each state. So, what happens to a criminal who commits a murder in a state that doesn’t have the death penalty? Absolutely nothing, I mean he or she will go to prison for a long time, maybe even for life, but they won’t, they can’t get the death penalty. But if the criminal did the crime just a state over he or she might be facing a lethal injection for their crime. Even a worm can see the unfairness in that. The states that have abolished the death penalty are definitely on the right track. Instead of killing the criminal, these states sentence them to life imprisonmentShow MoreRelatedIs the Death Penalty Justified?1824 Words   |  8 PagesIs the Death Penalty Justified? Jessica Valentine PHI 103 Informal Logic Professor Stephen Carter March 20, 2012 Is the Death Penalty Justified? The death penalty will always be a topic some people refuse to talk about. When in fact, it is a very serious topic and people should know how and why the death penalty is not justified. I believe the death penalty is not justified in the least bit because there are people sitting up in prison just living life because the state does not want toRead MoreIs Death Penalty Justified?995 Words   |  4 Pages995 Is Death Penalty Justified? Death penalty is the capital punishment given to the person where a person is put to death who has done crime or involved in a crime. It is for those people who is doing the crime intentionally. It is given by the government to the traitors, murderer and so on. The sentence is vindicated by the type of offense committed. There are certain conditions where a death penalty can be correct and should be consider Justified by the government. The death penalty guaranteesRead MoreThe Death Penalty Is Justified1534 Words   |  7 Pagesit is ethical to kill a convicted criminal. People who oppose the death penalty often argue mistaken identity and wrongful conviction. They argue that long-term imprisonment is the better course of action, because it allows for the possibility that if a mistake was made in the conviction of a suspect, they would be able to correct it without ending the life of an innocent person. They also state that the threat of the death penalty is not a deterrent and people will commit crimes regardless, as oftenRead MoreThe Death Penalty Is Justified1346 Words   |  6 Pagespast and recent years, the death penalty has remained a huge debate between individuals that agree or disagree whether the death penalty is justifiable punishment or not. Is capital punishment truly a justified and powerful approach to the violations of specific prisoners? Many individuals believe that having the death penalty is cruel and inhumane. Others believe that people who commit such heinous crimes should be punished with the death penalty. Instilling the death penalty is the same as saying â€Å"eyeRead MoreThe Death Penalty Is Justified1828 Words   |  8 PagesThe Death Penalty Daniel Heydari Professor Sheldon Philosophy 262-0 12 October 2015 1.) The author of this letter, submitted to the New York Times, claims that the death penalty is wholly and morally justified, seeing as its existence results in the lessening of violent deaths and gun use due to the perpetrator’s fear of killing a person in haste and thus being given the death penalty. 2.) The author argues his claim of the death penalty being justified as a means of punishment for violent crimesRead MoreThe Death Penalty Is Justified923 Words   |  4 Pagespilots who also had to bomb innocents to win the war,† (Gorman). More recently, a common trend has been the disapproval of the death penalty, exhibited by the thirteen percent drop in the number of people on death row since Spring of 2005 (Death Penalty Info. Center). Life without parole has become the preferred sentence of unavoidable capital punishment. The death penalty has frequently been viewed as inhumane. However, isn’t lack of remorse for such vile acts inhumane? In cases of intentional murderRead MoreThe Death Penalty Is Justified1143 Words   |  5 PagesAllison Shu 2/25/16 Period 2 Objective paper on the death penalty Capital punishment is legally authorized killing as punishment for a crime. The death penalty questions the morality of killing a person as justification for their crime. It also brings to question whether the death penalty actually serves as a deterrent for crime, and that some of the people executed are found innocent afterwards. The debates over the constitutionality of the death penalty and whether capital punishment should be usedRead MoreThe Death Penalty Is Justified995 Words   |  4 PagesThe Death penalty has been a controversial topic for many years and recently the debate about it has been getting bigger and bigger to where at some point soon a decision will have to be made. Many people will disagree with the death penalty because it goes against their moral beliefs, this is thought process is seen more in the northern states. However, here in the south the death penalty is strongly believed in by most, but who is put to death and why? Did they deserve this sentence or were theyRead MoreThe Death Penalty Is Justified858 Words   |  4 PagesSince the foundation of our nation the Death Penalty has been a way to punish prisoners that have committed heinous crimes, however since the turn of the 20th century the practice of Capital Punishment has been questioned on its usage in America and the world as a whole. The Death Penalty is used in America to punish criminals who have committed murders, or taken the life of an innocent person, and while the death penalty seems like it is doing justice to those who have killed others it is actuallyRead MoreThe Death Penalty Is Justified1463 Words   |  6 PagesIn many eyes across the country the death penalty is widely criticized. The state of Texas has the death penalty, whereas nineteen other states in the United States do not including the state Maine. The death penalty is a way for the states to declare that they don’t tolerate the heinous crimes that some individuals commit. In Texas there are nu merous ways that one could be sentenced to death row. Murdering a police officer or firefighter in the line of duty and if the individual knowing that they

Financial Planning and Forecasting

Question: Discuss about theFinancial Planning and Forecasting. Answer: Introduction Traditionally, purchasing a new car always involve two parties namely the buyer and the seller (car dealer). However, with the introduction of the employer in a car purchasing deal, the employees can only save a lot of through a leasing arrangement known as the salary sacrifice and Fringe Benefits Tax (FBT). Likewise, the employees have been saved the stress of doing a lot of paperwork to obtain car loans. This paper will; one, elaborate the application of salary sacrifice and how it works; two, provide examples to illustrate the calculation of salary sacrifice; three, define Fringe Benefit Tax (FBT) and how its introduction would impact the application of salary sacrifice; and four examine the comparison between salary sacrifice and borrowing money to purchase a car. The assignment uses the Australia as the case study because salary sacrifice and FBT is applicable here. Definition of Salary Sacrifice The Salary sacrifice is also known as the remuneration packaging or salary packaging. It refers to an arrangement between the employee and the employer where the former forgoes part of future wages or salary to finance a car while the latter provides them while a benefit of the same value as the foregone salary (Carr Chan, 2004, p. 3). This is a form of novated lease, as it is known in Australia, where an employer (a new party is introduced in a purchase agreement. The employer makes the car payments on behalf of the employee out of the pre-tax income. The whole process is straightforward and simple (HR Block, 2016). How it works Novated leasing via salary sacrifice can be stretched between two and five years after which the buyer (an employee in this case) can either trade the old car for a new model; i.e. a new lease agreement or pay a pre-determined buy-out amount and keep the leased car (The Fleet Network, 2016). Many people confuse novated lease and care to rent. However, it should be understood that car rental that takes place in the airports involves paying a considerable amount of money for already used cars. While, novated lease involves dedicated a particular portion of your salary to pay for a new car (Kluwer, 2016, p. 67). Under salary sacrifice via novated lease, the employer leases a new car on behalf of his/ her employee although the payment responsibility lies with the employee and not the employer. Deductions are paid from the employees salary before the taxable income is calculated which reduces the tax bills for the employee (Insight Accounting, 2016, p. 31). Examples Example One Calculate the amount saved per year by an employee, earning a gross salary of $50,000 annually, who want to purchase a new car with a price tag of $ 27,091 using salary sacrifice. The car is expected to cover 15,000 km per annum under a lease term of five years. The expected total annual cost of operating the car is $ 10,583, GST inclusive. The cost comprises of financial expenses, maintenance fees, Fuel, Tyres, Registration, and Insurance. Solution Savings made using Salary sacrifice Without Sacrificing ($) With sacrificing ($) Gross Salary per Annum 50,000 50,000 Less: motor Vehicle 0 5,422 FBT 0 0 GST from the employee's contribution 0 468.27 Sub Totals 50,000 44,109.73 Add: tax credits (input) 0 961.32 Taxable Income 50,000 45,070 Taxes 9,300 7,747 Net salary before contribution 40,700 37,323 Less: Contribution 10,573.92 5,151 Net Income 30,126.08 32,172 Salary sacrificing benefit in a year 2,045 Note: During the lease term the employee will save a total of $ 10,225 ($2,045*5) Example Two: Determine the amount saved per year by an employee, earning a gross salary of $100,000 annually, who want to purchase a new car with a price tag of $ 67,825 using salary sacrifice. The car is expected to cover 15,000 km per annum under a lease term of five years. The expected total annual cost of operating the car is $ 21,466, GST inclusive. The cost comprises of financial expenses, maintenance fees, Fuel, Tyres, Registration, and Insurance. Solution Savings made using Salary sacrifice Without Sacrificing ($) With sacrificing ($) Gross Salary per Annum 100,000 100,000 Less: motor Vehicle 0 8,860 FBT 0 0 GST from the employee's contribution 0 1,152 Luxury vehicle charge 0 18 Sub Totals 100,000 89,970.00 Add: tax credits (input) 0 1,958 Taxable Income 100,000 91,928 Taxes 26,700 23,551 Net salary before contribution 73,300 86,377 Less: Contribution 21,541.00 12,680 Net Income 51,758.00 55,697 Salary sacrificing benefit in a year 3,938 Note: During the lease term the employee will save a total of $ 19,690 ($3938*5) Benefits of Salary Sacrifice There are several benefits associated with salary sacrifice. First, it is cost effective. An employee pays for the leased car using the pre-tax income i.e. the amount of contribution is not subjected to tax. Second, an employee attains a higher buying power if he/ she obtains the novated lease via a fleet company. That is, the employee would get a larger discount by using the fleet company as compared to obtaining the lease under dealership (Straton, 2016, p. 67). Third, obtaining salary sacrifice via novated lease is flexible. A buyer can easily exchange the car for a new model at the end of the lease period. Depending on the structure of the lease, the buyer can either get a new car at the end of the period or pay the residual cost and retain the old car (Pyefinch, 2016). Lastly, the servicing of the car is done by the fleet company, therefore, saving the employee time that would have been spent seeking the servicing. Likewise, the employee does not incur the servicing cost because the costs are already included in the lease payment (Carr Chan, 2004, p. 5). Definition of Fringe Benefit Tax The employees benefit that arises from novated lease can be subjected to Fringe Benefits Tax (FBT) which is referred to like an individual tax payable imposed by the Federal government on the benefits arising from salary packaging benefits (Australian Government, 2016, p. 5). The employer has the responsibility of paying the FBT on the benefits received by their employees under the sacrificing agreement. The FBT reduces the amount of salary received by the employee. The introduction of the FBT was introduced by the Federal Government of Australia during the 2011/ 2012 budget announcement (Straton, 2016). However, it should be noted that some employers like those in public hospitals, health charities, and public benevolent organizations are not subjected to FBT unless the total benefits offered to an employee exceeds the acceptable threshold (The Fleet Network, 2016, p. 43). How it Would Affect Salary Sacrifice The Fringe Benefits Tax is determined using the statutory Formula method provided by the Federal government. The FBT payable per annum is established by exercising the statutory percentage on the cars FBT Base value (which refers to the purchase price fewer government charges). The figure obtained is then multiplied by the number of days the employee used the vehicle, gross-up factor (which is a constant of 2.0647) and the FBT rate (current standing at 46.5%) (Carr Chan, 2004, p. 11). Conversely, it should be pointed out that the statutory percentage is based on the number of kilometres the vehicle travelled in a year (note that there exist no difference between private and business use). The statutory percentages announced by the Federal government were as follows Kilometres travelled in a year Statutory Percentage 14,999 km and below 26% 15,000 to 24,999 20% 25,000 to 39999 11% Over 40,000 7% Calculating FBT: Example Calculate the FBT tax payable for a Novated lease involving a car with an FBT base value of $50,000 which covers 20,000 km in an FBT year (agreement entered in 2011). The employee has the opportunity of using the car for 365 days in a year. Also note that a full FBT year comprises of 365 days (not a leap year). Solution The taxable Value is calculated as follows; = Base Value * Statutory Percentage * Days available for use/ Days during a full FBT year = $50,000 * 20% * 365/365 = $10,000 Calculating FBT tax payable = Taxable Value * Gross-up Factor * FBT rate = $10,000* 2.0647* 46.5% =$96,600.85 The calculated FBT tax payable is subtracted from the employees package as an expense. FBT is a liability that reduced the savings under the Novated lease. Therefore, the FBT tax payable reduces the employee benefits. Although this is an expense, the employee would still save a reasonable amount compared to either obtaining a loan to finance a car or buying it without salary sacrifice. Comparison Between Salary Sacrifice and Borrowing Money for a Car A comparison between salary sacrifice through Novated lease and car loan indicates that the former comes with much benefit. A loan is financed using a post-tax income while the lease is financed using pre-tax income (HR Block, 2016). The buyer lowers the taxable income leading to more benefits under Novated lease. The same case applies to comparing Novated lease and normal payments for a car (The Fleet Network, 2016, p. 51). Conclusion The study has established that the employees benefit more under the salary sacrificing via Novated lease. This attribute is evident under the calculations comparing financing a car with and without salary packaging. However, it has also been established that FBT tax payable that was introduced by the Australian Federal Government reduces the employee benefits under Novated lease. Irrespective of the changes brought about by the introduction of FBT, employees still enjoy reasonable benefits. References List Australian Government, 2016. Salary sacrifice arrangements for employees, Sydney: Australian Taxation Office. Carr, S. A. Chan, C., 2004. New Zealand?s Fringe Benefit Tax 20 years on: An Empirical Investigation into Employers? Perception. New Zealand Journal of Taxation Law and Policy , Volume Vol. 10, No. 3. , pp. pp. 3-11. HR Block, 2016. What Is Salary Sacrifice?, Sydney: HR Block. Insight Accounting, 2016. Novated leases and FBT explained, Sydney: Insight Accounting. Kluwer, W., 2016. Australian Income Tax Legislation 2016. Sydney: s.n. Pyefinch, J., 2016. Everything you need to know about novated leasing, Australia: Cars Guide. Straton, 2016. Novated Leasing Salary Packaging , Sydney: Straton. The Fleet Network, 2016. What is salary sacrificing, and how can it benefit me?, Sydney: Fleetnetwork.com.