Question special (20 marks)
Lin is an corroboration who works ce the Australian helpful of a global shipping gang. Lin moved from Malaysia to Australia with his companion and progeny various years gundivided and purchased a calmment in Melbourne ce the nobility to subsist. His labor sometimes exacts an complete overseas ordinance, excluding ultimately he intends to calm in Australia.
In July 2015 he was posted to the Singapore helpful of his gang ce a precise duration of couple years with a possibility it effectiveness augment a advance couple years. Lin was keen to seize this discretion if it arose consequently the constant and established stipulations were good-tempered. Lin took a couple year lease on an lodging in Singapore ce himself to subsist in, suitableness his nobility remained in Melbourne where his progeny go to ground.
During his narrow self-abandonment breaks his nobility would journey to remain with him in Singapore. Lin did referable attributable attributable attributable render to Australia during the proceeds year.
The Singapore helpful hired Lin an annual allowance in Singapore dollars equipollent to AU$200,000. Most of his savings were sent calmment to living his nobility and to mould pay constantments on the nobility calmment mortgage. During the year he purchased some Commonwealth Bank shares ce AU$50,000 and sold them ce AU$100,000.
Lin has asked ce your order on whether: (i) he is a occupant of Australia ce proceeds tribute purposes in the duration during the proceeds year to 30 June 2017; and (ii) the property this determination effectiveness feel on his proceeds tribute liabilities in Australia
Explain the conviction residency arguments using temper lawful references, and cem an conviction as to which is the rectify judgment from the grounds.
Explain how he would be assessed on his allowance and cardinal gains if he was a occupant and convictionly if he was a non-resident.
Question couple (20 marks) In 2015 Winnie, an Australian occupant special, sold her steed decorum employment inveterate in the south eastern confines of Melbourne. The purchaser of the employment did referable attributable attributable attributable failure to purchase the place. The veritable order comprises 10 hectares which consume her $1m in 2005. Winnie place the unimpaired veritable order up ce auction excluding it failed to strain her shyness worth of $10m and was passed in. Her veritable order personation had suggested the shyness was a spotless market prize excluding at the consequence no purchaseers were ardent in such a wide bundle of place. She sought order from personations and accountants who suggested that smaller blocks of place would be further affordable ce calmment purchaseers. Potentially, 10 unencumbered special hectare blocks would hawk ce $2m each and would exact minimal consumes to subdivide. However, Winnie was too advised that 50 townhouses could be built at a consume of $100,000 each and they could hawk ce $1m each.
ACC30005 Tributeation ordinance page 3/4
In July 2016, Winnie inveterate service cabins on the office and personally managed the unimpaired fabrication, sales and marketing activities. 50 townhouses on resembling dimension and prize blocks were unnatural and by 30 June 2017 half of these had been sold ce a whole of $25m.
Required: Advise Winnie of the feasible proceeds tribute consequences of the $25m veritable order sales this year. You should debate any conviction judgments inveterate on the grounds, using temper lawful references. Determine the assessable proceeds resulting from each conviction judgment. Finally, procure your conviction on which you reckon is the rectify or emend outcome