HI6028 Taxation, Theory, Practice & Law T1, 2016 ASSIGNMENT

HI6028 Taxation, Theory, Practice &
Law
T1, 2016 ASSIGNMENT 1
Attributable determination: Week 6
Maximum marks: 20 (20%)
Instructions:
This provision is to be submitted by the attributable determination in twain soft-portraiture (Safeassign – Bb) and firm portraiture.
The provision is to be submitted in accordance with tribute device customary in the Subject Outline and Tyro Handbook.
It is the calling of the tyro submitting the result to fix that the result is in reality his/her hold result. Fix that when incorporating the results of others into your yielding that it unexceptionably notorious.
Case con-over 1: Restnce and source
Kit is a enduring dweller of Australia. He was born in Chile and retains his Chilean citizenship. Kit spends most of the year resulting impromptu the seaseacoast of Indonesia on an grease rig restraint a United States corporation. He was recruited restraint this drudgery in Australia and authorized a lessen with the corporation here. Restraint the last foul-mouthed years, Kit’s helpmate has lived in Australia with their couple unstudiedspring. They purchased a abode in Australia three years past. Kit and his helpmate enjoy a knee bank recital with Westpac Bank. Kit’s stipend is hired instantly into his recital. Full of the origin’s other investments, including a portion-out portfolio that generates dividend fullowance, last in Chile. Kit gets individual month impromptu from result integral third month and, on these occasions, he meets with his origin either in Australia or on holidays about South America (usually in Chile where his parents rest).
Discuss whether Kit is a dweller of Australia and how his stipend and investment fullowance would be taxed (10 marks, max. 1000 articulation).
Case con-over 2: settled fullowance
Explanations of the appertaining outcomes reached by the courts in the forthcoming cases which full 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
(10 marks, max. 1000 articulation).