Case study Residence and Source

Question: Case study: Residence and Source. Answer: Issue From this scenario, the kit is a citizen in the country Australia. Kit works for a well known American company that is located in Australia. Kit salary payment is strictly paid in the account throughout a well-known bank like "Westpac bank". The kit is the joint owner of the Australia. Despite Kit is holding the state Chilean citizen which measured as a national of the country Australia because of kit has a dual resident (Atkins et al., 2012). Moreover, Kit is considered as citizenship in the country Australia for the tax purpose that kit mostly owns his house in the Australian country and also the wife of the kit is also residing in Australia most of the year. Most of the time in the year Kit is used to stays the cost of the Indonesia and also holiday he remains in the country occasionally. The kit also invests in the state Chile and considered as a resident of Australia (ATKINSON, 2009). The main issue is either Kit is a nation of the country Australia or not. The Kit also found fo r the measurement of the tax in the state Australia. Law According to the Australian taxation rules system or the procedure it also prescribed in the country Australia by ATO or the Australian Taxation Office this type of criteria or the situations that are checked for the verifying the Australian nations of an individual that are given below: The present occurrence of an individual in the country Australia. The relation of a person with Australia included the entire family member residing in Australia. According to this case study, an individual comes with the relatives in Australia of different kinds of trips that depend on the reason or the exact purpose for this journey. In this case study, we need to conclude that of person possess such assets like housing in the country or the state Australia (Bansal and Sharma, 2015). From this scenario, an individual is considered as a regular employee in Australia. According to this scenario, they should have any bank account in Australia. From this case study, an emigrant should have to continue the own job of their in the country like Australia (Basu and Andrews, 2014). Analysis From this type of scenario, Kit is holding a Chilean resident and kit have also considered as the citizen of the country Australia that kit a worker in Australia but he worked in an American company. Kit paid off his total salary payment which entirely consists of and a well-knew bank like "Westpac bank" in the country Australia (BATEMAN, 2006). His wife and Kit also need to have Ann account of their bank jointly, and it also occurs in the country Australia. However, the kit is also residing in the coast of Indonesia most of the time in the year in the country Australia. Conversely, the wife of the kit is living in Australia and it also significant reason determining the kit like a citizen in Australia. In spite of this, the situations that kit is a nation of the state Chile. He needs to hold the considerable assets in the state Chile. However, Kit also try to consider as a resident of Australia. From this context, always kit works to hold the citizenship of the country Chile. Moreov er, Kit permitted also ready to capable for the Australian Taxation System. Conclusion According to this scenario, Kit for his incomes the primary objective of his earnings is needed to met according to the required criteria or the situation which make Kit an Australian resident and also his costs or the profits are assessable income (Bennmarker, Calmfors and Seim, 2014). Moreover, Kit also need to provide the requisite tax for his total benefits or the profits from his income that kit needs to work in the country like Australia according to the rules and regulations of the Australian Taxation Office (ATO). References Atkins, H., Muraro, P., van Laar, J. and Pavletic, S. (2012). Autologous Hematopoietic Stem Cell Transplantation for Autoimmune DiseaseIs It Now Ready for PrimeTime?.Biology of Blood and Marrow Transplantation, 18(1), pp.S177-S183. ATKINSON, A. (2009). NATIONAL SUPERANNUATION: REDISTRIBUTION AND VALUE FOR MONEY1.Bulletin of the Oxford University Institute of Economics Statistics, 32(3), pp.171-185. Bansal, M. and Sharma, D. (2015). An Emperical Study on Credit Rating Agencies (with Ref. to Default Rates of Crisil).imsmanthan, 9(1and2). Basu, A. and Andrews, S. (2014). Asset Allocation Policy, Returns and Expenses of Superannuation Funds: Recent Evidence Based on Default Options.Australian Economic Review, 47(1), pp.63-77.