| Country : | Australia |
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Assignment Task
Task
This report aims to get you thinking about the material covered in weeks 1 to 4, from income to deductions. The issues will require some independent research to address issues not covered in detail in the course. You have limited words (1500 maximum) to do the assignment. You must therefore be succinct. The footnotes, bibliography and short headings are not included in the word count. DO NOT use footnotes to add extra information - footnotes in this unit are for referencing only.
Question 1:
Archie is a German resident employed by a German company. He is sent to Australia to work on a short-term project to assist with the establishment of a branch office of the company in Australia. Archi works in Australia for one month. Throughout this period, his salary was paid into his German bank account. During the year, he earned the equivalent of A$150,000 from his employment. Does Archie have to pay Australian tax on any of his salary?
Question 2:
Andrew is a student studying accounting at SCU.
The following information relates to the financial year ending 30 June 2021.From 1 July 2020 to 31 January 2021, Andrew works as a waiter at a local restaurant and is paid $22.00 per hour. He works 3 x 5 hour shifts each week. In addition, he often receives tips from diners. The amount he receives varies but is generally between $50 and $70 each shift.In September 2020, Andrew’s employer gives him an “employee of the month” award.This award is given to an employee each month based on positive feedback received from customers. The award is a $250 bonus.In December 2020, all restaurant employees receive a Christmas gift from the restaurant owners. The gift is a bottle of wine valued at $100.
In November 2020, Andrew received a prize for receiving the highest mark in the subject “Advanced Taxation”. The prize was a non-transferrable $150 gift voucher to the Co-op Bookshop.
In February 2021, Andrew starts a graduate position with an accounting firm in the Brisbane CBD. His annual salary is $75,000 inclusive of 9.5% compulsory superannuation.He signed the contract for the job in November 2020. He was offered a $2,000 sign-on bonus which was paid once he completed his first week of work.
Advise Andrew as to whether any of the amounts or benefits he receives under the above transactions are ordinary income to him (i.e. do not consider statutory income provisions, FBT or CGT). Would your answer change if in relation to the prize received from the university, he was given $300 in cash rather than a gift voucher?
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