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Taxation Theory ,Practice and Law
Case study 1: Residence and source Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean citizenship. Kit spends most of the year working off the coast of Indonesia on an oil rig for a United States company. He was recruited for this job in Australia and signed a contract with the company here. For the last four years, Kit’s wife has lived in Australia with their two children. They purchased a home in Australia three years ago. Kit and his wife have a joint bank account with Westpac Bank. Kit’s salary is paid directly into his account. All of the family’s other investments, including a share portfolio that generates dividend income, remain in Chile. Kit gets one month off from work every third month and, on these occasions, he meets with his family either in Australia or on holidays around South America (usually in Chile where his parents reside). Discuss whether Kit is a resident of Australia and how his salary and investment income would be taxed (10 marks, max. 1000 words).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 159II. II. Scottish Australian Mining Co Ltd v FC of T (1950) 81 CLR 188III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLRIV. Statham & Anor v FC of T 89 ATC 4070 .V. Casimaty v FC of T 97 ATC 5135VI. Moana Sand Pty Ltd v FC of T 88 ATC 4897VII. Crow v FC of T 88 ATC 4620VIII. McCurry & Anor v FC of T 98 ATC 4487
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*** **** ***** **** ***** * ****** ******* in ******* ************* ***** *** deducted **** ***** ***** ****** ** ***** *** **** his **** country added ** ***** *** **** *** ******* ******* **** *** ******** **** **** countries ******* ********* *** from home ******** ***** *** from working country-tax ******* **** **** ***************** **** *********** ****** ********* *** v ****** (Surveyor ** ****** (1904) * ** ************* ** *** **** ****** ****** ****** **** * ******** of the ******* of the **** ******* ****** ** *********** Copper Syndicate (Limited and ******** * ****** ****** * *** ***** *** ** *** The ***** ******** ** *** ****** ***** expressed *** ***** ** * Delphic ********** *** ** ***** what *** **** ***** no criteria *** concluding ** **** * ******** ** ** currently ****** the ***** *** this **** ******* *** ****** of the business **** be *** income *** ******* ** ** ** not ** **** ****** on *** type of *** **** ***** is defined and *** relationship between *** ****** of *** ****** ** **** ** **** ******** ********** ******** by * ******** *** **** a ******** **** *** ** necessaryII ******** Australian ****** ** *** * ** of T ****** ** *** 188 **** company *** ******** ** ******* ** ********* **** three decades ago; ** was ***** to **** *** ******** ***** was ** ******** *** Australian Mining ******* *** *** *** ****** *** **** *** Also it is **** **** *** limb ** s 26 *** ** ITAA **** *** **** *********** *** ***** ******** ** this indicated that the ***** limb ** **** subsection ** *** *********** The fact that *** availability ** **** ****** on ******** on making * development ** **** It *** * ****** *** ****** *** ****** *** *** central ***** *** ******* * profit‐making scheme could **** ** exchanging *** ***** alone ** shows **** ** can ****** ** proceeding **** *** **** ******* ** this ********* *** ******* legacy ** ********* ***** ** ****** *********** ******* although corporate *** ***** are *** 30% of finance *** ******* ************ ***** there ** **** as ******** is ********** **** has **** *********** ** *********** *** *** ******** *** because ** the limited ****** of Whitfords ******** FC ** * * *********** ***** Pty *** ****** 150 **** The ********* on table ******** ** *** **** ***** of ********* ******** in ******** * * * ***** 5 ** *** ********** *** *********** ** ******* *** of ****** **** ***** ********* ****** **** was the **** ** ***** a business ** ************ ********** *** selling for *** ****** land started 20/12/ 1967 *** whole ** *** ******* ******** *** ********* ** **** ******** *** ***** of the subject ******** as ** ** ******** **** ** agreed ******* *** ******* *** *** purpose ** *********** ****** ** be looked *** ** million ******* The ******** ** assessments *** *** years ** ****** ended 30/11/ **** *** ********** *** *** **** ** ******* ******* ended 30 ********* **** ** ******** ** *** ************ ** Taxation to ** ********** ********* to *** *********** ** *** ********* between ***** and 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**** *** **** ***** ** **** *** ***** ** purchasing ******* ***** ** ** **** **** **** ** ***** ** the **** acquired ***** September 1985 **** **** be ******* to *** ** could **** ** **** as ***** ********** ********** ***** ***** ***** the *** *********** **** *** ** the ****** **** ** the **** *** ********** *** even left ********* *** * new **** ********* erected ** the ******** **** ** **** event **** of the gain on the post-CGT land that *********** *** **** Residence ***** **** for ************* ***** ***** ********** provisions **** ***** the land *** used *** farming business ** *** ** ******** ** **** relief under *** Small ******** *** provisions Those ********** *** ***** from *** scope ** **** ****** ******** * FC ** T 97 *** ********** ** *********** ** **** ******* ********* 988-acre farm **** an origin ** 1955 *** ****** forgave ****** to pay for *** **** ** **** **** they ********* ** adjacent ***** to ********* ** apartment In **** one could *** ******** *** ***** *** 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********** hope In ******* of **** **** the ruling ***** among other things ***** ****** ********* ** ********** ** ******** for *** ******* ** *************** the **** ** **** **** **** *** powder *** ********* *** firm *** to **** until ** was "ripe" *** ************ In **** the **** *** ******** for ********* *** ******* ***** **** *** ****** was ******* on **** * ***** *** the second **** ** s 26(a)VII **** * FC ** T ** *** ********** on *** ************ ** land Taxed ** ****** ****** ******** farm owned ** *** ****** since 1904 ******* ****** ***** **** 19 *** remains **** ******* ************ *** ******** **** to sell ** **** development potential ******* ******** ***** *** ******** *** ****** partitioned ******* ** ************ ********** *********** *** done in * ****** *** taxpayer *** very ******** ** *** *********** ***** down to ******** **** money *** **** himself rather **** looking ** ***** The taxpayer *** ** previous growing ************** ******* ***** Anor v ** of * ** *** ******* ***** ******* *** ******** **** ** ****** **** *** **** *** ***** *** fishing but *** land *** obtaining *** making **** ******* ** ********* in the **** *********** business *** ******* Article ** Association *** the ******* ***** with ******** developments works ********** for ******** the sale ** the evidence *** the **** *** ******** ********* **** *** **** **** ******** ***** *** ********** *** *** **** ********************** * ****** E & Oxenberry * (1986) ******* Residence *** ***************** ** ****** Welfare ** South ********* ********* ***** Pty Limited (AUS)Humphreys * ****** ********* * carbon tax *** *************** *** *********** *********** * ****** Factors affecting *** ********** ***** of *** ***** *** ******** *** ******************* *** ************* FISCAL ************* ***** ************** * * ********* * F & ******** * * ********* ****** *** *** ********* of capital ***** *** lossGyourko * ***** ***** * ********* ******* ************ ** ***************** ******** ****** tax benefitsReal ****** ********* 31(4) *******
