International Tax fundamentals Case Study 代写


International Tax fundamentals
 
Case Study
 
Dr Alice Jones is an Australian geneticist employed by Gene Co Laboratories Ltd (Gene Co) in Melbourne since 2012. In June 2015 she was accepted for a 2-year research fellowship at a London university, starting from 01 July 2015.
Willing to keep Dr Jones as an employee during her time overseas, Gene Co offered her to work remotely from London on a part time basis only requiring her to travel to Melbourne for project meetings every 8 weeks.
After accepting the new work conditions, Dr Jones leased her Melbourne apartment, sold her car and moved to London on 1 July 2015. Since then, her income consisted of the following:

• Salaries of $42,000 per year paid by Gene Co into her Melbourne bank account on a monthly basis;
• Dividends of $2,000 from a UK company, received on 1 October 2015 (no withholding tax was applied in the UK);
• Interest on her UK bank deposits amounting to $270 (net of 10% UK withholding tax); received on 1 September 2015;
• Fully-franked dividends of $3,000 from an Australian company, received on 1 October 2017; and
• Rents of $18,000 per year from her Melbourne apartment paid in monthly instalments into her Australian bank account.

In December 2015, the London university offered Dr Jones a full time research position with an annual salary of $90,000 plus travel allowance of $7,000 paid in January each year, as well as sponsorship for a permanent residency visa. Dr Jones accepted the offer and on 1 January 2016 she resigned from Gene Co. Her Melbourne apartment remained rented at the same price on a continuous basis until 30 June 2018.
 International Tax fundamentals Case Study 代写
 
      
Question A
(a)  Considering the facts above, advise Dr Jones on her residency status for the period between 1 July 2015 and 30 June 2018, applying legislation, case law and relevant tax rulings to support your answer. (12 marks)
 
Question B
(a)  Based on your answer to item (a) above, calculate her assessable income for the years 2015/16, 2016/17 and 2017/18, stating applicable legislation and relevant notes. (8 marks)

 
Superannuation
 
Case Study
 
Lasso Pty Ltd, an Australian company specialising in security services, employs Diana Prince, an Australian resident, as Director of Intelligence. Due to a downturn in the economy, Lasso Pty Ltd was restructured and Diana was offered an early retirement package.
Diana accepted the package and retired on 30 June 2018, aged 58. Among other benefits, on that date she received a lump sum payment of $600,000 from her complying taxed superannuation fund. Her latest superannuation account statement showed the following information:
·         Balance on 30 June 2007:         $400,000
·         Balance on 30 June 2018:         $600,000 (including $40,000 undeducted contributions made between 2010 and 2015)
 
 
Question 1
Assuming Diana joined the Superannuation Fund on the same day she started working, calculate Diana’s tax liability in relation to her superannuation benefit, stating supporting legislation. (10 marks)


International Tax fundamentals Case Study 代写