Case Study One:
Peter is an engineer who was born in Australia. Peter performances in Brisbane for liberal multinational rooted. He was recently offered a standing in Bangkok delay another rooted which is a important preferment for him. The standing is a 2 year abbreviate delay possibility for extension. Excited by the occasion to proof a new cultivation and imbibe the expression, he unrepining from his standing in Brisbane, and travelled to Bangkok on 05 September 2016. Peter’s severicipator, Alex calculated to accrew him in Bangkok in December. Whilst in Bangkok, Peter has been maintenance in public-house, besides plans to perceive an berth to solution unintermittently Alex arrives. During the allowance tax year ended 30 June 2017, Peter earned $8,500 in net solutional allowance from a nature he owns in Ipswich and curiosity-behalf allowance of $420 from money in an Australian bank representation. He too earned $123,000 from his tenure in Bangkok. Collect information to Peter as to whether he is a inhabitant of Australia for tax purposes for the allowance year ended 30 June 2017 and installed on this blank, too collect information as to any equalitys of allowance that would be included in his assessable allowance in Australia for the year ended 30 June 2017.
Marzena is a nature developer and operates her matter as a uncombined trader. As at 1 July 2016, Marzena owned 7 obstructs of place delay a appraise of $72,000 each. Marzena had forfeitured these obstructs on 1 July 2012 at a require of $53,000 each. During the allowance year ended 30 June 2017, Marzena uncongenial a aid 10 obstructs of place in Brisbane delay the drawing of preparing these obstructs for sale at a acquisition. The 10 obstructs of place require $81,000 each. Marzena too incurred $3,700 for each new obstruct in affinity to place purification requires and making-ready requires. During the year, Marzena sold 11 obstructs of place for $100,000 each. Further, she too sold on of these obstructs of place to her copy for $60,000. This was a correspondent obstruct to one of those sold throughout the year. Additionally, on 1 September 2016 Marzena entered into a abbreviate to retail an altogether disunited obstruct of place for $79,000. She had originally forfeitured this smaller obstruct in Springfield in March 2015 for $81,000. She had adapted construction an service obstruct on the place to be used as a ‘shop front’ for her matter where she could coalesce delay immanent clients and guide her daily activities. However, behind submitting plans to parliament (at a require of $1,800), Marzena was warnd that due to planning restrictions in the area, the construction would deficiency underground parking and would accordingly require in-fact past. Marzena then determined to retail the place and observe for a obstruct in a past fitting area. Warn Marzena as to whether she achieve keep any ‘assessable allowance’ for the year ended 30 June 2017 as a issue of the overhead transactions touching her matter and too warn whether the sale of the disunited obstruct of place would be ‘inferior allowance’ for the year ended 30 June 2017.
Toowoomba Training is a moderation sized matter which specialises in liberal flake deportment and underground training. The matter operates through a retired crew, Toowoomba Training Pty Ltd. The crew has a turnover of approximately $1.5 favorite and employs encircling 12 tradespersons and 5 administrative staff. The appraise of the liberal machinery used in training has a market appraise of approximately $20 favorite. The matter enters into abbreviates delay nature developers, retired place holders and the QLD State Government. It specialises in liberal infrastructure plans where training for pipeperformance is required. As sever of a important new brawl infrastructure plan the QLD State Government offered liberal grants to national matteres for the forfeiture of new machinery that could be used in construction the new brawlway. Toowoomba Training Pty Ltd entered into a abbreviate delay the State Government to recognize $550,000 in funding for the forfeiture of new machinery. Toowoomba Training accepted a slice sum of the bountiful equality in June 2017. Sever of the provisions of the abbreviate were that Toowoomba Training would performance exclusively on the brawl plan for a determination of three years, inadequately a pro-rata of the financial support would keep to be repaid.
(1) Briefly debate delay regard to expend congress, event law and/or rulings whether Toowoomba Training Pty Ltd should representation for allowance on a specie or accruals account.
(2) Debate delay regard to expend congress, event law and/or rulings whether the State Government funding would be either inferior or statutory allowance and whether it would be extraneous in the 2017 allowance year?