Give a definition and explain the following terms Residency, also discuss the tax consequences for a non-resident
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Question:
- Give a definition and explain the following terms
- Residency, also discuss the tax consequences for a non-resident
- Assessable income
- General deductions
- Specific deductions
- Decline in value
- Tax rebate
- Tax offset, in particular the low income tax offset and the foreign income tax offset.
- Tax accounting
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