1. Identify the sources of Australian taxation law and the framework within which tax is administered

2. Identify various types of taxation in Australia including income tax, consumption taxes, goods and services tax, capital gains tax and fringe benefits tax

3. Apply the fundamental principles of income tax, GST and FBT laws in calculating taxable income and tax payable for individuals and business entities

4. Apply appropriate taxation legislation using critical thinking and problem-solving skills to reach well-reasoned conclusions that optimise outcomes and to communicate these clearly in a written context

Case Study One: Consulting Services International Ltd

Consulting Services International Ltd (CSI Ltd) is a company incorporated in Hong Kong. The company is part of a multi-national group and acts as a holding company for a number of other entities. The group provides corporate management consulting services in various countries across the globe. CSI Ltd owns 80% of the shares in Consulting Services Australia Ltd (CSA) which is incorporated in Australia and carries on a business undertaking corporate consulting in Australia through various physical offices.

CSI Ltd's main activities are raising finance and investing in order to generate funds and effectively manage the other companies in the group. CSI also provides centralised management and head office services to the other international companies in the group for fees at market value. The main income sources of CSI are therefore investment income, interest on loans to other companies and service fees.

CSI's main head office is located in New York. Most of the administrative staff are also located in this New York Office, the senior executive staff, directors, while the Board Members are physically located at various other subsidiary company head offices in other countries. Two Board Members (from a total of 10 members) and two senior executives are based in the Australian offices but regularly travel overseas. At least two Board Meetings were held in Australia during the 2024 income year with the remaining held in New York. There were 11 Board meetings held during the year.

Required:

With reference to legislation, case law and/or rulings (where relevant) whether CSI Ltd would be considered a resident of Australia for tax purposes for the income year ended 30 June 2024.