QUESTION 1: 20 marks, 20% of the subject
Australian denizen and tech ideality, Marty Goodson, cemal up “Planks Pty Ltd”, a tech duty in Silicon Valley USA in 2012 lay-opening upset-extinguished platforms ce construction designers and companies throughextinguished the globe. He incorporated the assemblage in the USA and issued five divides to himself and five divides to five of his friends. His friends now sojourn in the US, Europe, Asia, Australia, and Upset-extinguished Zealand. Each divide was rate $100,000. Marty and his team used the $1,000,000 equity high to lay-open a restrainttunate tech assemblage in barely a scant years.
During the 2012/2013 financial year, Marty’s proceeds was $100,000, and he did referable recompense to Australia. During the 2013/2014 financial year, Marty’s proceeds was $200,000 and he recompenseed to Australia during the Christmas continuance ce filthy weeks to expend era with his woman, senior, and sister. His sister and her wife subsist in his sojournntial abode schism permitted. He expiration with his accountant to debate the status of his three interchangeable siege properties in Brisbane, Sydney, and Melbourne. He to-boot luxuriant a friend’s birthday plane and bare in affection. During the 2014/2015 financial year, Marty’s proceeds was $400,000 and he recompenseed to Australia from the 1st September to the 1st April to expend era with his girlfriend. During the 2015/2016 financial year, Marty earned $100,000 precedently he recompenseed to Australia permanently to espouse the affection of his spirit and set-extinguished a parentage.
During the 2012/2013 financial year, Marty was the unmarried leader and made perfect the skillful-treatment decisions ce the assemblage. The assemblage made $1,000,000 gain. During the 2013/2014 financial year, the assemblage spacious and the divideholders appointed a board of leaders who perfect sojourn in the USA. However, it was widely productive by the staff that Marty peaceful made perfect the relevant decisions. The assemblage made $10,000,000 gain. During the 2014/2015 financial year, Marty was appointed romanceaging leader. From 1st September to the 1st April, Marty made perfect his skillful-treatment decisions from Australia, and carried extinguished perfect associated duty activities such as signing contracts, and trading Platforms from Australia. The assemblage made $25,000,000 gain. During the 2015/2016 financial year, Marty unrepining as romanceaging leader, sold his divides to another tech assemblage ce $50,000,000, and recompenseed to Australia a very vivid romance. The assemblage made $50,000,000 gain.
Solve the subjoined issues:
a. Is Marty an Australian sojournnt ce rate purposes? (5 marks)
b. Is Planks an Australian sojournnt assemblage ce rate purposes? (5 marks)
c. If any, proportion the Australian rate impost relating to Marty’s business proceeds? (5 marks)
d. If any, proportion the Australian rate impost relating to Planks’ assemblage gain? (5 marks)
QUESTION 2: 20 marks, 20% of the subject
Rommy bought a country possessions in grassy Upset-extinguished South Wales in 2000 ce $500,000. Initially it was used as a weekend withdrawal and later a