took a job in Vanuatu three years ago on 1 st July 2017, as Trade liaison officer with the Australian High Commission in Vanuatu She has retuned on 30 th June, 2020 Before leaving Tracy lived with her mother in a house owned by her mother Tracy has returned to that house to live Tracy tells you the following She has a group certificate from the Department of Trade of the Commonwealth of Australia (DT)for the year 2019 2020 showing that she earned $70,000 on which her employer, the DT deducted $14,670 She worked part time at a weekend coaching school in Vanuatu coaching children in English She was paid $2,500 for this work Vanuatu does not have taxation of individuals She also received a transfer allowance from the DT to move back to Australia that amounted to $2564 Her airfare and the cost of taxis and freight on her personal effects came to $2,664 She earned $3500 in fully franked dividends from Australian Listed Public Companies She earned $500 in an unfranked dividend from one Australian Listed Public Company When she returned to Australia, she sold a sports car she had put on blocks when she left The car had cost her $5000 in 2010, and when she sold it, she received $6,500 for it On 20 th June, 2020, she sold for $10,000 a block of shares that she had purchased in 2014 for $12,000 Tracy asks you to advise her on her tax situation for the 2019 2020 tax year Required (a) Draw up a table showing the tax effect of these transaction, and calculating Tracys tax liability or refund based on her being a resident (7 x 1 7 Marks)

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took a job in Vanuatu three years ago on 1 st July 2017, as Trade liaison officer with the Australian High Commission in Vanuatu. She

took a job in Vanuatu three years ago on 1^st July 2017, as Trade liaison officer with the Australian High Commission in Vanuatu. She has retuned on 30^th June, 2020. Before leaving Tracy lived with her mother in a house owned by her mother. Tracy has returned to that house to live.

Tracy tells you the following:

She has a group certificate from the Department of Trade of the Commonwealth of Australia (DT)for the year 2019/2020 showing that she earned $70,000 on which her employer, the DT deducted $14,670.
She worked part time at a weekend coaching school in Vanuatu coaching children in English. She was paid $2,500 for this work. Vanuatu does not have taxation of individuals.
She also received a transfer allowance from the DT to move back to Australia that amounted to $2564. Her airfare and the cost of taxis and freight on her personal effects came to $2,664.
She earned $3500 in fully franked dividends from Australian Listed Public Companies.
She earned $500 in an unfranked dividend from one Australian Listed Public Company.
When she returned to Australia, she sold a sports car she had put on blocks when she left. The car had cost her $5000 in 2010, and when she sold it, she received $6,500 for it.
On 20^th June, 2020, she sold for $10,000 a block of shares that she had purchased in 2014 for $12,000.

Tracy asks you to advise her on her tax situation for the 2019/2020 tax year.

Required:

(a) Draw up a table showing the tax effect of these transaction, and calculating Tracys tax liability or refund based on her being a resident. (7 x 1 = 7 Marks)