Review the problem of elwood blues

Reference no: EM132212280

Question: Elwood Blues and his wife request that you provide them with tax advice in the form of a single business letter addressing the following taxation issue that they have raised. Please use 1Â½ line spacing. The letter should not exceed 500 words.

Please reference the appropriate law (ITAA), cases and Taxation Rulings in your letter. This is worth marks. Do not quote using hyperlinks to websites as no marks will be awarded. Do not quote text book paragraphs.

There is no need to provide a reference list at the end of the letter.

Elwood Blues address: Unit 52 246 Queen Street Brisbane, QLD, 4000.

Elwood Blues is one of your new clients. Elwood has the following questions and he requires your analysis and advice as to the application of the law.

Part 1: Starting a new life, Elwood arrived in Australia on 1 July 2017 with his wife and two children. Elwood and his family have been transferred to Australia for a minimum of 3-years. Elwood likes the low interest environment and purchases a home. He moves in immediately. He registers the telephone and electricity in his name. On 1 January 2018, he adds a new kitchen to the home at a cost of $20,000.

Inda, his wife started part-time employment as a sales manager. The children settle happily into the local school. Elwood rents out their former home in the United States and the rent is paid into an American account he can access from Australia.

Elwood joins the local gym and becomes a member of the local Chess club. He attends regular meeting and is appointed President after a short period of time.

Inda is asked to work from home 2 days per week as the company is closing their Brisbane office. The company can no longer afford the commercial rent. Inda agrees reluctantly as she loved the work atmosphere.

Required: Elwood and Inda request that you provide them with tax advice in relation to their residency for taxation purposes. Students should quote legislation, appropriate rulings and cases. Marks will be awarded for the format of your business letter and appropriate use of language.

Reference no: EM132212280

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