On 1 July 2018 Yvonne left Australia indefinitely to take up a full-time position as a senior administrator in a UK hospital. In the 2018/19 income year, she was paid a salary of $70,000 for her work in the UK hospital. Tax amounting to $7,000 was deducted from her UK salary. For the 2018/19 year Yvonne received interest of $2,400 on her Australian bank account and a fully franked dividend of $900 on her shares from HAL Corporation Ltd.
Upon leaving Australia, Yvonne sold all of her furniture and leased the apartment she owns for $600 per week. For the 2018/19 year she received $26,000 rental income.
https://studenthome.work/the-assignment-both-the-word-document-and-the-video-file-will-need-to-be-submitted-electronically-through-the-student-portal-use-the-link-under-assessments/
Required
Part 1) Calculate her Australian assessable income for the 2017/18 and 2018/19 tax years. You must give reasons for the inclusion or exclusion of all receipts in her assessable income. Refer to relevant legislation and case(s) to determine her residency.
Part 2) Advise Yvonne regarding foreign tax paid in the UK for the 2017/18 tax year only. Calculate the tax offset amount.
Assessment Instructions
• The assignment (both the word document and the video file) will need to be submitted electronically through the student portal – use the link under “Assessments”. https://essaycove.com/
Referencing
• Any sources that you use need to be acknowledged in order to avoid plagiarism.
• Sources of information must be cited both in the body of the text (in-text referencing) and the end of the assignment (reference list). Failure to do so will result in penalties. Remember that when referencing an Annual Report, it is a corporate document that does not have a particular author but it will still require referencing any time you use information from it. Any other documents or books or other references you use will also require referencing.
Please note
• Any work which has been copied or shared between students will result in a Fail grade for all students concerned. Therefore, please make sure that the answer to this assignment is your work and not copied or bought from any source. In completing this assignment make sure you follow the guidelines for assignments especially those relating to the presentation of written work, late assignment policy and academic integrity.
Penalties Regarding Referencing:
• No in-text referencing – deduct 1 marks
• Some in-text referencing only – deduct 1 mark
• No reference list – deduct 2 marks
• Incomplete reference list – deduct 1 mark
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