Discuss the residency of misha

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Reference no: EM132361378

Question 1:

After Misha finishes her Bachelor of Commerce degree she travels to the UK to work as an accountant for three years. During that time she rents a flat and makes many friends. Her UK salary is paid into a UK bank account. At the end of the three-year period she has saved enough money to travel. Misha then spends a year travelling around Europe and a year travelling around North America, At the end of the five years she returns to Australia. Discuss the residency of Misha.

Question 2:

Consider the following situations and discuss whether or not they are income in ordinary concepts:
• A cash prize for being the best student in income tax law received by a student who also receives a Youth Allowance from the government.
• A gratuity (not being superannuation) received by a widow from her husband's former employer in recognition of her husband's services.
• An honorarium received by a student for acting as honorary secretary of a small country town football club.
• A bonus received by an employee for a suggestion adopted by the management.

Verified Expert

in this assignment, two question has been solved. First question is regarding residential status.The second question is regarding income being ordinary income or not.

Reference no: EM132361378

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len2361378

8/26/2019 10:02:07 PM

Students are reminded that there are two assignments in LEGL602. This is the first assignment, being an individual assignment of 25 marks. All assignments must be typed in Arial, size 11, 1½ spacing, justified (align to both left and right), have the standard cover sheet and be signed by the student(s) stating that the work is original. While referencing sources used for this assignment, you must follow the Australian Guide to Legal Citation (AGLC) (the footnote system).

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