Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your client was born in australia but lived in new

Your client was born in Australia but lived in New Zealand for a long period...

60.1K

Verified Solution

Question

Accounting

Your client was born in Australia but lived in New Zealand for a long period of time. He came to New Zealand for a holiday after finishing university, met up with his former spouse and set up home here. He worked as a police officer in New Zealand. Since separating from his spouse, he moved back to Australia in July 2018 and works as a security contractor in Australia. He maintains a bank account in Australia in which his salary is deposited and receives interest income on a term deposit. He also holds shares in Australian companies and receives dividends. Although he lives in Australia most of the year, he comes to New Zealand frequently to visit his former spouse and his children and lives with them while in New Zealand. He maintains a bank account and owns an investment property in New Zealand.

Required:

Explain with reasons whether your client is a tax resident of New Zealand and whether his contractor income, interest and dividend income from Australia will be taxable in New Zealand. Support your answer with references to the Income Tax Act 2007 and appropriate case law.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

PRES CONSIDE PEN PEN Senet Kerrmann MIL Consumer Crezil Outstanding 2015 1 mance Companies Month...

Statistics
Q

To explain the following concerning Cyanobacteria in general. 1) general characteristics 2) Type of reproduction and how 3) Why...

Biology
Q

2) Operating a steady-state, a well insulated mixing chamber receives two input liquid streams of the...

Physics
Q

23 Just like alcohol and other drugs driving while drowsy can

Biology
Q

A woman earned wages of 32 500 received 1400 in interest from a savings account...

Basic Math
Q

In a tournament a professional golfer knows that she is 200 yards from the hole...

Basic Math
Q

Finish solving the triangle Enter your answer as a decimal value You must be accurate...

Algebra
Q

1. One major difference between job-order costing and process costing lies in how which inventory...

Accounting
Q

Determine the treatment of each of the following items: Y-Mart Store has a policy of...

Accounting
Q

Under the effective-interest method of bond discount or premium amortization, the periodic interest expense is...

Accounting
Q

Marvel Parts, Incorporated, manufactures auto accessories including a set of seat covers that can be...

Accounting
Q

I Required information Problem 8-70(LO 8-4)(Algo) [The following information applies to the...

Accounting