Question 1:
[Omitted]
REQUIRED:
1. Advise if he is assessed on the items received from A.
2. Advise how the items he received from B will be assessed.
3. Advise whether he will be a tax resident of Australia for the year ended 30 June 2017.
Question 2: Part A:
REQUIRED:
[Omitted]
Show the calculation process to determine the net capital gain or loss for Duncan for the year ended 30 June 2017.
Part B:
[Omitted]
Please provide him with the answers to the questions related to GST.
Required:
Question 3:
REQUIRED:
[Omitted]
Show the calculation process to determine his taxable income and tax payable for the year ended 30 June 2017. (He and his wife have private health cover. He wishes to minimize his tax liability.)
Please explain the treatment of each item and refer to relevant legislation or case law to support your treatment.
END OF EXAMINATION