This report provides a comprehensive analysis of Australian taxation principles. It begins by examining the residential status of an individual, Daniel, for the 2016/2017 tax year, applying the domicile, 183-day, and superannuation tests. The report calculates Daniel's tax payable, including assessable income, allowable deductions, and net tax liability, considering various income sources such as salary, rental income, interest, dividends, and travel income. Furthermore, it discusses Daniel's tax consequences if he returns to Malaysia in 2017/18. The second part of the report analyzes transactions to determine whether they are subject to fringe benefit tax (FBT) or income tax, using the example of Joyce, a marketing manager. It details the calculation of FBT liability for various benefits, including school fees, travel allowances, car benefits, gym memberships, and loans, providing insights into tax implications and potential measures to reduce tax liability. The report references relevant sections of the Australian Income Tax Assessment Act (ITAA) and other tax rulings.
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