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Explain the income tax implications of the employee

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Reference no: EM13995143

Explain the income tax implications of the employee.

Lacey left Australia on 1 July 2014 to set up Break Fast's New York office. She does not intend to return to Australia for five years. She is single and has no family ties.

Her expected income is salary from Break Fast and interest income from a US bank account.

The assets that she owns include her home in Sydney, stamp collections, car and shares in an Australian listed company.

Reference no: EM13995143

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