Issue #8: Dr. Litt also has an investment property in Brighton. The property is rented out for a monthly rent of $820. Issue

#9: Dr Litt has accepted a new job in the UK. He will resign from his job at HealthyHeart Pty Ltd, effective 1 July 2023, and move permanently to the UK with his wife. He has already sold his family house. He is contemplating on selling the investment property at Brighton, in the tax year 2023. The property was purchased4 on 9 March 2007, for $480,000. He would like to know the tax consequences of a) selling the property before he moves overseas; and b) continuing renting out this property while he moves overseas permanently with his wife. Issue #10:

Dr Litt was taken by surprise when it was mentioned that after he moves overseas, he may still have to pay taxes in Australia. He is keen for a list of items that are most likely to be included in his assessable income for Australian tax purposes for the tax year 2023, once he has permanently moved overseas.

Could you please prepare a letter of advice for me to send to Dr. Litt explaining any tax consequences in relation to the above matters? In addition to the tax consequences, Dr Litt has also requested an estimation of his income tax payable for the tax year 2022. He has kept invoices for $7,500 of work related expenses that can be claimed as general deductions. If you could email that to me by Monday morning. Sincerely, Harvey Specter Phone: 038 123 456