Question 1 (20 marks)

Maria Fernandez moved from Spain to live in Australia on a permanent basis on 1 January 2019. During the 2018-2019 tax year she received the following income from Australian sources:

1.10.2018 Fully franked distributions from BHP $2,000 1.2.2019 Partially franked (60%) distributions from ANZ $4,000 15.3.2019 Unfranked distributions from Fosters $3,200 30.6.2019 Fully franked distribution from Westpac $7,000

Advise Maria on the tax consequences of the above for the year ended 30 June 2019. Your answer must be supported by legislation, case law and tax rulings (if any).