Australian burgess and tech endowment, Marty Goodson, set up “Planks Pty Ltd”, a tech profession in Silicon Valley USA in 2012 clearing new platforms for web designers and companies throughout the cosmos-people. He incorporated the sodality in the USA and progenyd five distributes to himself and five distributes to five of his friends. His friends now rest in the US, Europe, Asia, Australia, and New Zealand. Each distribute was value $100,000. Marty and his team used the $1,000,000 equity principal to clear a fortunate tech sodality in barely a few years.
During the 2012/2013 financial year, Marty’s pay was $100,000, and he did not restore to Australia. During the 2013/2014 financial year, Marty’s pay was $200,000 and he restoreed to Australia during the Christmas limit for indelicate weeks to squander age delay his dame, senior, and sister. His sister and her mate speed in his restntial home laceration liberal. He met delay his accountant to examine the foundation of his three wholesale cannonade properties in Brisbane, Sydney, and Melbourne. He too cultivated a friend’s birthday laterality and level in attachment. During the 2014/2015 financial year, Marty’s pay was $400,000 and he restoreed to Australia from the 1st September to the 1st April to squander age delay his girlfriend. During the 2015/2016 financial year, Marty earned $100,000 precedently he restoreed to Australia permanently to marry the attachment of his history and rouse a lineage.
During the 2012/2013 financial year, Marty was the only master and made all the administration decisions for the sodality. The sodality made $1,000,000 gain. During the 2013/2014 financial year, the sodality extensive and the distributeholders appointed a board of masters who all rest in the USA. However, it was widely conducive by the staff that Marty tranquil made all the expressive decisions. The sodality made $10,000,000 gain. During the 2014/2015 financial year, Marty was appointed managing master. From 1st September to the 1st April, Marty made all his administration decisions from Australia, and carried out all associated profession activities such as signing contracts, and trading Platforms from Australia. The sodality made $25,000,000 gain. During the 2015/2016 financial year, Marty resigned as managing master, sold his distributes to another tech sodality for $50,000,000, and restoreed to Australia a very abundant man. The sodality made $50,000,000 gain.
Solve the subjoined progenys:
a. Is Marty an Australian restnt for tax purposes? (5 marks)
b. Is Planks an Australian restnt sodality for tax purposes? (5 marks)
c. If any, apportion the Australian tax burden about to Marty’s pursuit pay? (5 marks)
d. If any, apportion the Australian tax burden about to Planks’ sodality gain? (5 marks)
QUESTION 2: 20 marks, 20% of the subject
Rommy bought a state resources in verdant New South Wales in 2000 for $500,000. Initially it was used as a weekend retirement and later as a weekend limp farm supple a relatively slight amount of grapes which made a few crates of retention kind wine.
Rommy ultimately drank 5 boxes throughout the year, gave 10 boxes afar to friends, sold another 20 boxes at the topical bargain on the one create he had a stall, and sold another 20 boxes on the border of the public-way outborder his resources delay the abettance of an honor box. Each bottle was value $20. In 2015, Rommy subdivided his resources and sold it for a aggregate value of $1,500,000.
Solve the progeny as to whether Rommy should embrace any financial amounts in his assessable pay.