Question
From 1 July 2021 to 31 December 2021 Malik is in Australia on a Subclass 500 Student Visa (Temporary). On 1 January 2022 Malik obtains
From 1 July 2021 to 31 December 2021 Malik is in Australia on a Subclass 500 Student Visa (Temporary). On 1 January 2022 Malik obtains permanent residence visa in Australia. Malik tells you for the year of tax ending 30 June 2022 he:
- Earned $500 each week working 20 hours per week at Hungry Jacks. Hungry Jacks paid to the ATO $1,404 PAYGW tax on Malik's behalf
- Received $15,000 from a rental property he part owns in Bangladesh.
- To 30 December 2021 earned $3,000 selling fantasy micro novels he authors on I-Books. Apple deduct 30% tax paid to the US-IRS on Malik's behalf.
- From 1 January to 2022 to 30 June 2022 he earned $6,000 from selling micro-novels on I-Books.
All amounts are in Australian dollars. Advise and explain to Malik what is to be included in his Australian tax return, if any. Your answer must explain what is not to be included and why it is not to be included. Finally, you should advise Malik of any credit he may get, for the year of tax ending 30 June 2022. Your answers must be supported by reference to relevant legislation, case law and/or tax rulings and agreement.
Step by Step Solution
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Step: 1
Malik should include the following in his Australian tax return for the year ending 30 June 2022 1 I...Get Instant Access to Expert-Tailored Solutions
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Step: 2
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