13 Pages 3461 Words FIN200 Financial Assessment Of The Company

Incorporated the corporation in the USA and consequenced five divides to himself and five divides to five of his friends. His friends now lodge in the US, Europe, Asia, Australia, and New Zealand. Each divide was figure $100,000. Marty and his team used the $1,000,000 equity principal to educe a auspicious tech corporation in barely a few years. During the 2012/2013 financial year, Marty’s proceeds was $100,000, and he did not restore to Australia. During the 2013/2014 financial year, Marty’s proceeds was $200,000 and he restoreed to Australia during the Christmas span for indelicate weeks to consume span delay his mother, father, and sister. His sister and her wife feed in his lodgential lodgence solution liberal. He met delay his accountant to sift-canvass the status of his three marketable investment properties in Brisbane, Sydney, and Melbourne. He so cultivated a friend’s birthday border and bare in charity. During the 2014/2015 financial year, Marty’s proceeds was $400,000 and he restoreed to Australia from the 1st September to the 1st April to consume span delay his girlfriend. During the 2015/2016 financial year, Marty earned $100,000 antecedently he restoreed to Australia permanently to link the charity of his vivacity and set-out a race. During the 2012/2013 financial year, Marty was the unique manager and made all the address decisions for the corporation. The corporation made $1,000,000 acquisition. During the 2013/2014 financial year, the corporation distant and the divideholders appointed a table of managers who all lodge in the USA. However, it was widely antecedent by the staff that Marty quiet made all the main decisions. The corporation made $10,000,000 acquisition. During the 2014/2015 financial year, Marty was appointed managing manager. From 1st September to the 1st April, Marty made all his address decisions from Australia, and carried out all associated trade activities such as signing contracts, and trading Platforms from Australia. The corporation made $25,000,000 acquisition. During the 2015/2016 financial year, Marty enduring as managing manager, sold his divides to another tech corporation for $50,000,000, and restoreed to Australia a very oleaginous man. The corporation made $50,000,000 acquisition. Solve the forthcoming consequences: a. Is Marty an Australian lodgent for tax purposes? (5 marks) b. Is Planks an Australian lodgent corporation for tax purposes? (5 marks) c. If any, reckon the Australian tax obligation of to Marty’s business proceeds? (5 marks) d. If any, reckon the Australian tax obligation of to Planks’ corporation acquisition? (5 marks) QUESTION 2: 20 marks, 20% of the theme Rommy bought a empire nature in pastoral New South Wales in 2000 for $500,000. Initially it was used as a weekend asylum and later as a weekend falter farm supple a relatively inferior amount of grapes which made a few crates of limitation attribute wine. Rommy ultimately drank 5 boxes throughout the year, gave 10 boxes loose to friends, sold another 20 boxes at the national market on the one cause he had a stall, and sold another 20 boxes on the verge of the highway outverge his nature delay the coadjutorship of an justice box. Each bottle was figure $20. In 2015, Rommy subdivided his nature and sold it for a whole figure of $1,500,000. Solve the consequence as to whether Rommy should comprise any financial amounts in his assessable proceeds. Assessment criteria Evaluation Criteria These criteria are a public conduct as to the measure expected at the several levels. C

Order a unique copy of this paper

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
Top Academic Writers Ready to Help
with Your Research Proposal