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Case study 1: Residence and source Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean citizenship. Kit spends most of the year working off the coast of Indonesia o

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Case study 1: Residence and source
Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean
citizenship. Kit spends most of the year working off the coast of Indonesia on an oil rig
for a United States company. He was recruited for this job in Australia and signed a
contract with the company here. For the last four years, Kit’s wife has lived in Australia
with their two children. They purchased a home in Australia three years ago. Kit and his
wife have a joint bank account with Westpac Bank. Kit’s sa...

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Question Preview:


Case study 1: Residence and source
Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean
citizenship. Kit spends most of the year working off the coast of Indonesia on an oil rig
for a United States company. He was recruited for this job in Australia and signed a
contract with the company here. For the last four years, Kit’s wife has lived in Australia
with their two children. They purchased a home in Australia three years ago. Kit and his
wife have a joint bank account with Westpac Bank. Kit’s salary is paid directly into his
account. All of the family’s other investments, including a share portfolio that generates
dividend income, remain in Chile. Kit gets one month off from work every third month
and, on these occasions, he meets with his family either in Australia or on holidays
around South America (usually in Chile where his parents reside).
Discuss whether Kit is a resident of Australia and how his salary and investment income
would be taxed (10 marks, max. 1000 words).
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
(10 marks, max. 1000 words).

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EXECUTIVE SUMMARY

The primary objective of this case study report is to understand the various aspects of Australian Income Taxation System. This study tries to understand the difference between the permanent resident and Australian citizen and the impact on their taxation. This report is based on the permanent resident of Australia Kit and how he is supposed to file the return on his income. The study incorporates all the important taxable assets and also consists of the current financial year’s tax rate, followed by

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