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Taxation Law InTRODUCTION 3 CASE STUDY 1 3 Explain the Residential Status of Kit and Treatment of its Salary and Investments

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TAXATION LAW INTRODUCTION 3 CASE STUDY 1 3 Explain the residential status of Kit and treatment of its salary and investments for the purpose of taxation 3 CASE STUDY 2 4 a) Describe case issue 4 b) Identify defendant and plaintiff 5 c) Case description 6 Question 3 8 Highlight all the sections breached in the case law and explain all the sections 8 CONCLUSION 9 REFERENCES 10 INTRODUCTION Tax is regarded as one of the factor that reduces an entity's earned income

Taxation Law InTRODUCTION 3 CASE STUDY 1 3 Explain the Residential Status of Kit and Treatment of its Salary and Investments

   Added on 2020-02-14

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TAXATION LAW03
Taxation Law InTRODUCTION 3 CASE STUDY 1 3 Explain the Residential Status of Kit and Treatment of its Salary and Investments_1
Table of ContentsINTRODUCTION...........................................................................................................................3CASE STUDY 1..............................................................................................................................3Explain the residential status of Kit and treatment of its salary and investments for the purposeof taxation....................................................................................................................................3CASE STUDY 2..............................................................................................................................4a) Describe case issue..................................................................................................................4b) Identify defendant and plaintiff...............................................................................................5c) Case description.......................................................................................................................6Question 3........................................................................................................................................8Highlight all the sections breached in the case law and explain all the sections.........................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................1003
Taxation Law InTRODUCTION 3 CASE STUDY 1 3 Explain the Residential Status of Kit and Treatment of its Salary and Investments_2
INTRODUCTIONTax is regarded as one of the factor that reduces an entity's earned income which will berecognize in the initial stage. This project is all about explaining various case laws and theresidential status of an individual by fulfilling various conditions. Lastly the report end with thecase law about the taxation on the basis of PAYG tax to be paid by Walker on the taxable salaryearned by them.CASE STUDY 1Explain the residential status of Kit and treatment of its salary and investments for the purpose oftaxationResidential status of an individual is determined for determination of tax liability of aperson as in Australia residential status of a person will facilitate an individual in knowing its taxliabilities in advance. There are various conditions that act like a residency test in order todetermine the actual obligations of tax imposed on a person.A person whose domicile or home is in Australia are regarded as the resident of Australia for thepurpose of tax unless its permanent home place is in outside Australia.An individuals stay in Australia for half of the income year or for a period of 183 days or moreare taken as Australian resident unless that individual locates outside the Australia and does notwant to stay here in Australia for permanent purpose.Another residency test used to asses the residential status of an individual in Australia isof eligible employee. A person who shift to Australia for an employment contract from itsoriginal place of location will be count one among the resident of the Australia for the purpose oftaxation. Citizenship and nationality of a person will not restrict its residential status in order todetermine its tax liability for the income tax rules and the regulations of imposed by theAustralian government.Above mentioned conditions will help a person in ascertaining its residential status forthe purpose of taxation as this would help an individual in order to get further relief in their taxobligations as all the reliefs are mentioned in the act especially for resident and non-residentindividuals.03
Taxation Law InTRODUCTION 3 CASE STUDY 1 3 Explain the Residential Status of Kit and Treatment of its Salary and Investments_3

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