User Account

All Pages

Fred is resident of australia for taxation purposes explain

Assignment Help Taxation
Reference no: EM131200590 , Length: word count:2500

Taxation, Theory, Practice & Law ASSIGNMENT-

Case study 1: Residence and source

Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Although the length of his stay is not certain, he leases a residence in Melbourne for 12 months. His wife accompanies him on the trip but his teenage sons, having just commenced college, stay in London. Fred rents out the family home. Apart from the absence of his children, Fred's daily behavior is relatively similar to his behavior before entering Australia. As well as the rent on the UK property, Fred earns interest from investments he has in France. Because of ill health Fred returns to the UK 11 months after arriving in Australia.

Requirement - Discuss whether Fred is a resident of Australia for taxation purposes.

Case study 2: ordinary income

Explanations of the respective outcomes reached by the courts in the following cases which all involving sales of land

I. Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC 159

II. Scottish Australian Mining Co Ltd v FC of T (1950) 81 CLR 188

III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLR

IV. Statham & Anor v FC of T 89 ATC 4070

V. Casimaty v FC of T 97 ATC 5135

VI. Moana Sand Pty Ltd v FC of T 88 ATC 4897

VII. Crow v FC of T 88 ATC 4620

VIII. McCurry & Anor v FC of T 98 ATC 4487

Reference no: EM131200590

Questions Cloud

Calculate the work if the pressure is constant : air is compressed in cylinder such that the volume changes from 0.2 to 0.02 m^3. the pressure at the beginning of the process is 200 kpa
Compute pops net income for the year : Compute POP's net income for the year and - Compute POP's return on equity (ROE).-  POP has no preferred stock.
Identify and defend the pa of the cmmi model : Identify and defend the PA of the CMMI model for American Airlines. The PA, its goals, the specific practices, and the generic practices will be part of the justification. Corporate organizational chart.
What is your required rate of return per annum : What is your required rate of return per annum?- If the market requires an annual return of 12% for this stock, what is the growth rate of its dividend?
Fred is resident of australia for taxation purposes explain : HI6028 Taxation, Theory, Practice & Law ASSIGNMENT. Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Fred is resident of Australia for taxation purposes Explain
How long will it take for your funds to triple : You have $5,000 invested in a bank that pays 3.8% annually. How long will it take for your funds to triple?- If you invest $5,000 today, how many years will it take for your investment to grow to $9,140.20?
Find the second-law efficiency for combined system : what is second-law efficiency for combined system?
Where does valley medical center have strengths : As an OD practitioner, what recommendations would you make to support Robert in achieving his goals? How would you ensure these are included in the contracting process?
What is second-law efficiency for the combined system : what is second-law efficiency for the combined system?

Reviews

len1200590

9/9/2016 7:30:56 AM

Total word count 2500 words; make sure that you deliver me the best result. The assignment is to be submitted in accordance with assessment policy stated in the Student Handbook and Subject Outline. It’s the responsibility of the student submitting the work to ensure that the work is in fact her or his own work. Ensure that when incorporating the works of others into your submission that it appropriately acknowledged.

Write a Review

Taxation Questions & Answers

  Who determines the amount of each tax

List all of the taxes (percent, amount, etc.) found on the bill. Who determines the amount of each tax? Where does revenue from this tax go? What does it fund?

  Distribute the net income of the partnership

ACC 304 - Taxation Law - Calculate the net income of the partnership for the year ended 30 June 2015 and distribute the net income of the partnership for the year ended 30 June 2015.

  Discuss whether the receipt is ordinary

Two years ago Peta purchased a house in Kew. This house had two old tennis courts down the back which were in poor condition. Ignoring capital gains tax, discuss whether the receipt of $600,000 is ordinary income under s 6-5

  What is the current dividend per share

You also know that the total return on the stock is evenly divided between a capital gains yield and diviend yield. If the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?

  Top companys 2011 sales revenue was 200000 and 2010 sales

top companys 2011 sales revenue was 200000 and 2010 sales revenue was 180000. tops total assets as of 31st december

  Claim to reduce his payments on account

Evan did not receive a tax return for 2010-11 but he was aware that he had income which had not been assessed to tax. He notified HMRC of this fact on 2nd October 2011 and a return was issued to him on November 15th 2011. He completed the return a..

  What groups are likely to support such a tax

Various politicians have proposed an Internet tax. One proposal would be to tax both out- going e-mail and every Web page downloaded. What groups are likely to support such a tax and what groups would oppose it?

  Calculate kline''s intraperiod income tax expense

The company is subject to income tax rates of 30% on the first $40,000 of income and 35% on all income in excess of $40,000. Prepare a schedule to calculate Kline's intraperiod income tax expense (and credit) amounts.

  The faint of heart

Irs Pub 17 is not for the faint of heart. For young people who are doing their own taxes for the first time, it helps to be a dependent with guidance from parents. Most young people and first-time taxpayers don't use the full IRS pub 17, but rather t..

  Compute quantco creditable foreign income taxes

Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Quantco does a considerable amount of business in China

  How much was the firm taxable income or earnings

ABC recently reported $42,198 of sales, $13,908of operating costs other than depreciation, and $5,423 of depreciation. The company had no amortization charges and no non-operating income. It had $8,000 of bonds outstanding that carry a 10% in..

  How existing old goodwill on s s books is handled

How existing (old) goodwill on S's books is handled (i.e., assumed FV = $0)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd