Vlad, an Italian citizen, recently arrived in Australia with his wife and 3 children. He is a
Question:
Vlad, an Italian citizen, recently arrived in Australia with his wife and 3 children. He is a very wealthy businessman who owns several properties in Italy. Vlad has been able to obtain a 4 year temporary visa in Australia for himself and his family. His purpose of entering Australia is to expand his European franchise to Australia.
Vlad arrived in Australia on 17 January 2021 and his family arrived on 23 April 2021. Upon arrival in Australia, Vlad immediately engaged the services of a real estate agent to find him a suitable mansion to accommodate his family. Vlad also commenced his business operations one month after his arrival.
Advise whether Vlad is a resident and the accessibility of any income that he may derive. You must cite relevant sections, case law and ruling to support your answer (ignore CGT implications).
Expert Answer:
Vlad is a resident for Australian tax purposes from the date he commenced living in Australia This i... View the full answer
