Tax Holiday Pty Ltd is a company incorporated in Hong Kong. Tax Holiday Pty Ltd s business involves providing guided tours of the financial district of Hong Kong to international business travellers in Hong Kong. Tax Holiday Pty Ltd has no trading activities or sales in Australia. Plan Ning, an Australian tax resident, owns all the shares in Tax Holiday Pty Ltd. The directors of Tax Holiday Pty Ltd regularly meet in Brisbane Australia, where the power of management is exercised.

In relation to the above facts, which one of the following statements is true?

		As Tax Holiday Pty Ltd is not incorporated in Australia, it is not possible for it to be a resident for Australian tax purposes.
		Tax Holiday Pty Ltd ordinarily resides in Australia and is therefore a resident for Australian taxation purposes.
		As Tax Holiday Pty Ltd s controlling shareholder is an Australian tax resident, Tax Holiday Pty Ltd will be regarded as an Australian tax resident.
		As Tax Holiday Pty Ltd is not conducting business in Australia, it will not be regarded as a resident pursuant to the management test.
		As management and control is exercised in Australia, Tax Holiday Pty Ltd is a resident for Australian taxation purposes