Reference no: EM133166230

Question - Ed works as a geologist for a large international oil exploration company. Hisjob is to survey for potential oil deposits. He lives in Spain with his wife and four children and has done so for the past 28 years. For taxation purposes, he is considered a resident of Spain. During the 2021 income year, Ed is sent to France for 10 months where he derives a salary of $160,000 whilst working there. For two months of the 2021 income year, Ed is sent to Australia where he derives an Australian salary of $30,000 whilst working here. Ed owns a rental property in Sydney. During the 2021 income year, Ed derived gross rental income of $25,000 from tenants. He incurred allowable deductions of $35,000 associated with this Australian rental property. Ed also owns 10,000 shares in Telecom France, a French telecommunications company which operates exclusively in France. During the 2021 income year, Ed received $3,000 in dividends from this French company. How much is Ed's Australian taxable income for the year ended 30 June 2021?