logo

Measuring Taxable Income of Jack Jones

   

Added on  2020-06-03

8 Pages1981 Words45 Views
TAXATION LAW

TABLE OF CONTENTSTAXATION LAW...........................................................................................................................1INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11 DEFINING RESIDENTIAL STATUS OF JACK JONES.................................................12 MEASURING TAXABLE INCOME OF JACK JONES...................................................2CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6

INTRODUCTIONLaw imposed over citizens in a country for the proper execution of nation's operationalstrategies and functions. Australian Taxation Office has introduced several acts and laws whichwill improve taxation and legal functioning to a great extent. The present report is based on casesituation of Jack Jones who visited Australia along with his wife and son for work purpose.During his visa period he has travelled several times and stayed several places. In this, hediscussion is going to be made over his residency in Australia as a tax payer and the income hehas generated will be taxable or not. Report will shed light on the deductions, exemption orallowances, cases and tax rulings associated with the case of Jack Jones.MAIN BODY1 DEFINING RESIDENTIAL STATUS OF JACK JONESIssue:Jack Jones is a Canadian resident visited Australia for work purpose.Period of visa allowed to him starts from 2nd December 2012 ends on 30th June 2016.He worked till 1st August 2015 and return to Canada.After working 9 months in Canada he breaches the contract with Samsak company andreturns to Australia and stayed till completion of visa period on 30th June.Rules:section 6(1)1TR 98/17183 days testFederal Commission of Taxation v. Miller (1946)Application:Jack Jones visited Australia for the work purpose and he has occupied Visa for more than3 years. He has been stayed here for 33 months from 2nd December 2012 to 1st August 2015. Jackcompleted the period of 183 days staying in Australia so he will be known as Australian residentonly for tax purpose as per Section 6(1). On the basis of such aspect, he is obliged to make taxpayments for the income generated from Australian sources. Along with this, as per taxationruling 98/17, Jack is recognized as a resident and he falls under the category of person acquired1Income Tax Assessment Act 19361

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Taxation Law Assignment Solution - Doc
|7
|1672
|33

Taxation Law Assignment Solution
|8
|1555
|47

Australian Taxation Law: Assignment
|6
|1274
|40

Assignment on Australian Tax Law
|6
|1184
|46

Issues in Canada and Australia in Case of Residential Status : Report
|11
|3023
|45

Australian Taxation Law - Assignment Solution
|6
|1240
|43