1. How do you determine whether an individual is Australian resident for the purposes of income tax? List the rules for determining residency as provided in Income Tax Assessments Act 1997 (ITAA).

2. What is a capital gain tax? Explain the rules and an exemption category for the capital gain tax.

3. What are the ethical considerations you are required to be taken into account when preparing and lodging an income tax return for a client?

4. Briefly describe the consequences of not complying with statutory requirements while lodging your income tax return.