QUESTION 1

1. A resident taxpayer is:

   		A company which is incorporated in Australia.
   		A foreign company that carries on business in Australia.
   		A foreign company that has central management and control in Australia.
   		A foreign company with voting power controlled by Australian residents.
   		All of the above.

   QUESTION 2

2. Which of the following provides the most guidance in defining income according to ordinary concepts?

   		Case Law
   		The 1936 Income Tax Assessment Act
   		The 1944 Ordinary Income Regulations
   		The 1997 Income Tax Assessment Act
   		None of the above.

   QUESTION 3

3. Which of the following companies would be considered a non-resident for tax purposes?

   		A company that is incorporated in Australia and conducts business in Fiji.
   		A company that is incorporated in Fiji, conducts business in Australia and has entirely Australian shareholders.
   		A company that is incorporated in Fiji, conducts business in Australia and has entirely Fijian shareholders.
   		A company that is incorporated in Fiji, conducts business in Australia, has its central control and management in Australia, and has entirely Fijiian shareholders.
   		None of the above.

   QUESTION 4

4. Joey is a travel agent and receives a car parking fringe benefit from his employer. How is the value of this benefit classified?

   		Income according to ordinary concepts
   		Statutory income
   		Exempt income
   		Non-assessable non-exempt income
   		None of the above.

   QUESTION 5

5. Which of the following individuals is generally considered as an Australian taxpayer?

   		An Australian citizen goes overseas temporarily and does not set up a permanent home overseas.
   		An overseas student enrolled in a course for 1 year in an Australian university.
   		A foreigner who has migrated to and intends to reside in Australia permanently.
   		A relative of an Australian resident visiting Australia and lived in the one location and their visa allowed them to work during their stay.
   		All of the above.

   QUESTION 6

6. Which of the following statements is false?

   		Non-resident taxpayers are assessed on income from Australian sources only.
   		A taxpayer is a resident for tax purposes if they have a permanent home in Australia.
   		Overseas students coming to Australia to study a course that is more than 6 months in duration are generally treated as residents for tax purposes.
   		Resident taxpayers are assessed on income from both Australian and foreign sources.
   		None of the above.

   QUESTION 7

7. Which of the following is the most important factor in determining the source of assessable income from a property development?

   		The country where the development takes place.
   		The residency of the developer.
   		The country from which the development is financed.
   		The country in which the development is planned and contracts entered into.
   		None of the above.

   QUESTION 8

8. Toni signs a contract to sell an investment property on 15 April, but it does not settle until 15 July. When is the capital gain derived under ordinary concepts?

   		30 June
   		01 July
   		15 July
   		15 April
   		None of the above.

   QUESTION 9

9. Roshan is a non-resident of Australia. He derived $26,000 from business interests in Australia in 2019/20. His tax payable is:

   		$8,450
   		$ 0
   		$8,525
   		$8,005
   		None of the above.

   QUESTION 10

10. If a person doesn't satisfy the resides test (the primary test), they may still be considered an Australian resident under:

    		The domicile test.
    		The 183 day rule.
    		The superannuation test.
    		All of the above.
    		None of the above.