Australian denizen and tech cleverness, Marty Goodson, fixed up “Planks Pty Ltd”, a tech matter in Silicon Valley USA in 2012 amplifying newlightlight platforms coercion work designers and companies throughquenched the globe. He incorporated the audience in the USA and childrend five distributes to himself and five distributes to five of his friends. His friends now rest in the US, Europe, Asia, Australia, and Newlightlight Zealand. Each distribute was value $100,000. Marty and his team used the $1,000,000 equity expressive to amplify a happy tech audience in simply a lacking years.
During the 2012/2013 financial year, Marty’s proceeds was $100,000, and he did not attributable attributable attributable give-back to Australia. During the 2013/2014 financial year, Marty’s proceeds was $200,000 and he give-backed to Australia during the Christmas end coercion four weeks to lay-quenched spell with his dame, father, and sister. His sister and her mate feed in his restntial settlement divulsion bountiful. He vitality with his accountant to debate the foothold of his three interchangeable cannonade properties in Brisbane, Sydney, and Melbourne. He too lively a friend’s birthday interest and demolish in attachment. During the 2014/2015 financial year, Marty’s proceeds was $400,000 and he give-backed to Australia from the 1st September to the 1st April to lay-quenched spell with his girlfriend. During the 2015/2016 financial year, Marty earned $100,000 anteriorly he give-backed to Australia permanently to espouse the attachment of his vitality and set-quenched a source.
During the 2012/2013 financial year, Marty was the uncompounded ruler and made whole the address decisions coercion the audience. The audience made $1,000,000 improvement. During the 2013/2014 financial year, the audience spacious and the distributeholders appointed a consultation of rulers who whole rest in the USA. However, it was widely antecedent by the staff that Marty quiet made whole the expressive decisions. The audience made $10,000,000 improvement. During the 2014/2015 financial year, Marty was appointed romanceaging ruler. From 1st September to the 1st April, Marty made whole his address decisions from Australia, and carried quenched whole associated matter activities such as signing contracts, and trading Platforms from Australia. The audience made $25,000,000 improvement. During the 2015/2016 financial year, Marty enduring as romanceaging ruler, sold his distributes to another tech audience coercion $50,000,000, and give-backed to Australia a very productive romance. The audience made $50,000,000 improvement.
Solve the aftercited childrens:
a. Is Marty an Australian restnt coercion duty purposes? (5 marks)
b. Is Planks an Australian restnt audience coercion duty purposes? (5 marks)
c. If any, weigh the Australian duty jurisdiction touching to Marty’s possession proceeds? (5 marks)
d. If any, weigh the Australian duty jurisdiction touching to Planks’ audience improvement? (5 marks)
QUESTION 2: 20 marks, 20% of the subject
Rommy bought a province resources in verdant Newlightlight South Wales in 2000 coercion $500,000. Initially it was used as a weekend solitude and following as a weekend limp farm submissive a proportionately smwhole sum of grapes which made a lacking crates of shyness power wine.
Rommy ultimately drank 5 smackes throughquenched the year, gave 10 smackes loose to friends, sold another 20 smackes at the topical chaffer on the single create he had a stall, and sold another 20 smackes on the edge of the path quenchededge his resources with the countenance of an justice smack. Each bottle was value $20. In 2015, Rommy subdivided his resources and sold it coercion a sum appraisement of $1,500,000.
Solve the children as to whether Rommy should apprehend any financial amounts in his assessable proceeds.