Question
On 15 July 2017 Jacko Brown who normally resides in Brisbane was transferred to the New York office of his company Direct Australia Ltd, for
On 15 July 2017 Jacko Brown who normally resides in Brisbane was transferred to the New York office of his company Direct Australia Ltd, for a period of 5 years. His wife Delilah Brown accompanied him to Los Angeles. In New York they lived in a house owned by the company and rented out their Brisbane residence. While living in New York Delilah borrowed $100,000 from NAB Australia in December 2017 to invest in shares of Direct Australia Ltd. During the year ended 30 June 2018 Delilah received $11,000 as her share of the rental income from the property in Brisbane and $2,700 in fully franked dividends from Direct Australia Ltd. Her interest expense for the loan from NAB amounted to $5,600.
What is Delilahs taxable income and tax liability in Australia for the tax year ending June 2018?
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