Fred is a resident of australia for taxation purposes

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Case study 1: Residence and source

Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Although the length of his stay is not certain, he leases a residence in Melbourne for 12 months. His wife accompanies him on the trip but his teenage sons, having just commenced college, stay in London. Fred rents out the family home. Apart from the absence of his children, Fred's daily behavior is relatively similar to his behavior before entering Australia. As well as the rent on the UK property, Fred earns interest from investments he has in France. Because of ill health Fred returns to the UK 11 months after arriving in Australia.

Requirement

Discuss whether Fred is a resident of Australia for taxation purposes.

Case study 2: ordinary income

Explanations of the respective outcomes reached by the courts in the following cases which all involving sales of land

I. Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC 159

II. Scottish Australian Mining Co Ltd v FC of T (1950) 81 CLR 188

III. FC of T v Whitfords Beach Pty Ltd (1982) 150 CLR

IV. Statham & Anor v FC of T 89 ATC 4070

V. Casimaty v FC of T 97 ATC 5135

VI. Moana Sand Pty Ltd v FC of T 88 ATC 4897

VII. Crow v FC of T 88 ATC 4620

VIII. McCurry & Anor v FC of T 98 ATC 4487

Verified Expert

This assignment is based on the Australian Taxation. It has two case studies - The first one requires analyzing the residential status of an individual for taxation purpose. The second case pertains to short specific taxation cases on Ordinary Income and requires analyzing the same and highlighting the net outcome from each of the mentioned cases relevant to whether the transactions qualifies for Ordinary Income or not.

Reference no: EM131205071

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