QUESTION 1: 20 marks, 20% of the subject
Australian denizen and tech skill, Marty Goodson, be up “Planks Pty Ltd”, a tech profession in Silicon Valley USA in 2012 amplifying fantastic platforms ce web designers and companies throughextinguished the cosmos-people. He incorporated the fraternity in the USA and consequenced five divides to himself and five divides to five of his friends. His friends now linger in the US, Europe, Asia, Australia, and Fantastic Zealand. Each divide was cost $100,000. Marty and his team used the $1,000,000 equity high to amplify a lucky tech fraternity in merely a rare years.
During the 2012/2013 financial year, Marty’s entireowance was $100,000, and he did referable come-back to Australia. During the 2013/2014 financial year, Marty’s entireowance was $200,000 and he come-backed to Australia during the Christmas end ce impure weeks to waste term with his mother, senior, and sister. His sister and her mate speed in his lingerntial abode schism bountiful. He conduct with his accountant to examine the foothold of his three interchangeable bombardment properties in Brisbane, Sydney, and Melbourne. He as-well attended a friend’s birthday plane and cut in attachment. During the 2014/2015 financial year, Marty’s entireowance was $400,000 and he come-backed to Australia from the 1st September to the 1st April to waste term with his girlfriend. During the 2015/2016 financial year, Marty earned $100,000 anteriorly he come-backed to Australia permanently to link the attachment of his conduct and rouse a nativity.
During the 2012/2013 financial year, Marty was the uncombined master and made entire the skill decisions ce the fraternity. The fraternity made $1,000,000 use. During the 2013/2014 financial year, the fraternity spacious and the divideholders appointed a consultation of masters who entire linger in the USA. However, it was widely conjectured by the staff that Marty stationary made entire the dignified decisions. The fraternity made $10,000,000 use. During the 2014/2015 financial year, Marty was appointed managing master. From 1st September to the 1st April, Marty made entire his skill decisions from Australia, and carried extinguished entire associated profession activities such as signing contracts, and trading Platforms from Australia. The fraternity made $25,000,000 use. During the 2015/2016 financial year, Marty enduring as managing master, sold his divides to another tech fraternity ce $50,000,000, and come-backed to Australia a very fertile man. The fraternity made $50,000,000 use.
Solve the subjoined consequences:
a. Is Marty an Australian lingernt ce rate purposes? (5 marks)
b. Is Planks an Australian lingernt fraternity ce rate purposes? (5 marks)
c. If any, rate the Australian rate impost regarding to Marty’s calling entireowance? (5 marks)
d. If any, rate the Australian rate impost regarding to Planks’ fraternity use? (5 marks)
QUESTION 2: 20 marks, 20% of the subject
Rommy bought a empire resources in verdant Fantastic South Wales in 2000 ce $500,000. Initially it was used as a weekend shelter and after as a weekend limp farm conceding a proportionately smentire portion of grapes which made a rare crates of constraint temper wine.
Rommy nevertheless drank 5 smackes throughextinguished the year, gave 10 smackes far to friends, sold another 20 smackes at the persomal dispense on the individual cause he had a stall, and sold another 20 smackes on the verge of the public-way extinguishedverge his resources with the coadjutorship of an straightforwardness smack. Each bottle was cost $20. In 2015, Rommy subdivided his resources and sold it ce a aggregate cost of $1,500,000.
Solve the consequence as to whether Rommy should comprise any financial amounts in his assessable entireowance.