Development of the Industry
This presence cannot be ignored and has led to the development of the industry. With new
regulations being introduced, such as FoFA, threaten the same earnings as before but experts
believe, from our interviews, will bring in large volumes of business to the industry. The industry
would soon need to adjust to the newer conditions but is expected to develop around it given the
opportunity the wealth pool has to offer.
Further, the sophistication of the industry can be seen by the existence of over 200 Boutique
Investment firms who provide expertise to their niche investors. There is an expectation of
consolidation of these firms in view of the recent changes about slim margins but the market has
seen disruptive firms booming without any old heritage and running successfully. More than 23 of
Australian Investment firms are identified to be the World's Top 500 largest firms. The existence
alone highlights the growth potential of the industry and the future of the industry.
3. Literature Review
The future of the wealth management industry in Australia depends on the reasons that are leading
to the growth of the industry such as superannuation pool, regulatory changes, digitalization, etc.
There are also some challenges faced by the industry due to rising rates, higher contribution to
superannuation, etc which hold back the development and with respect to that, policy makers have
been making recommendations and suggestions which we look into to make a conclusion.
So
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A Resident Of Australia And How His Salary And Investment...
Case study 1: Residence and source
Discuss whether Kit is a resident of Australia and how his salary and investment income would be
taxed (10 marks, max. 1000 words).
Answer–
In order to determine whether Kit is a resident of Australia for taxation purposes, it is important to
understand the process of evaluation of residency of the individual. The Australian taxation law has
conceived certain methods that can determine whether the income generated by an individual either
in Australia or worldwide must be taxed. There are four such circumstances that can help in
determining Kit's residency. Referred to as "Tests" the circumstances are explained below–
 Resides Test– If an individual is a 'permanent resident' of Australia, and then he ... Show more
content on Helpwriting.net ...
This test also explains that if an individual has made another country his/her home then he/she will
not be considered as an Australian resident for tax purposes.
 183 Day Test– this test explains that an individual must be considered as an Australian resident if
he/she has stayed continuously or intermittently for more than half a year of his/her income. The
only exception to this test is based on the commissioner of The Australian Taxation office, if the
commissioner agrees that the individual has his permanent abode in another country and has no
interest in taking up permanent residency in Australian.
 Commonwealth Superannuation Test – for an individual to be declared as an Australian resident
for tax purposes under this test, he/she has to be a member of a superannuation scheme which is
established under the Superannuation act of 1990 and the individual is determined as an employee
eligible for the purpose of receiving superannuation guarantee from its employer based on the
superannuation act of 1976.
Based on the definition of tests and according to the facts mentioned below, it could be clearly
understood that Kit is a resident of Australia for taxation purposed based on his fulfilment of the
conditions mentioned in the "Resides Test" and the concluding case studies as evidence of the same.
 His family resides in Australia where he owns a home

Australian Catholic Superannuation Report
What is ACSRF? A report on Australian Catholic Superannuation and Retirement Fund
I.Introduction
The Australian Catholic Superannuation and Retirement Fund (ACSRF) is an industry
superannuation fund that is available to all Australians. It is the largest Catholic superannuation fund
in Australia composed of 90,000 members, over 12,000 employers and manages over $6 billion in
assets. As an industry fund, ACSRF exists only for the benefit of its members.
II.Details about the Australian Catholic Superannuation and Retirement Fund (ACSRF)
A. Names of Trustees and how they can be contacted Trustees The Trustee company in charge of
governing and managing ACSRF is called SCS Super Pty Ltd. The Trustee Board is made up of 12
directors, ... Show more content on Helpwriting.net ...
For example a 37 year old employee with 3 units of Unitised Death & TPD will have a death benefit
and TPD cover of $283,200. The insurance premium for this level of cover, which is deducted from
the member's account will be approximately $17.55 per month.
3.Income Protection/Temporary Salary Continuance cover
This is a monthly income paid to the member while temporarily unable to work due to illness or
injury. Temporary Salary Continuance (TSC) is only available in units. To illustrate, each unit covers
a salary up to $15,000. Assuming the member is covered for his entire salary, he can be paid up to
85% of his salary such that 75% will be directly paid to him while 10% is for his super
contributions. For example, a member earning $75,000 gross salary per annum can have 5 units of
cover. The approximate premium for this level of cover is $8.00 per month, which is deducted from
the member's account.
The Automatic or Default cover given to employer members (i.e. those enrolled into ACSRF by an
employer sponsor) is 3 units of combined Death and TPD as well as 1 unit of Income Protection
(IP). Members can also apply for Optional Extra Cover, without underwriting, up to 6 units of
Death/TPD and/or the number of IP units needed to cover his/her annual salary up to a maximum of

Benefits Of A Pension Fund
Introduction
A pension fund, also known as a superannuation fund or super fund is any plan, fund, or scheme
which provides retirement income. A pension fund is established by a company, governmental
institution or labour union to pay for the (future) pension benefits of retired workers.
Superannuation funds collect retirement savings from workers and their employers, and invest this
money in a wide range of assets. Because pension funds manage the money of up to millions of
individuals, they are major players in the financial markets. Australian superannuation funds are
major investors in the domestic and global capital markets.
Other than a few very specific provisions in the Superannuation Industry funds are not subject to
any asset requirements or investment exposure flaws. There are no minimum rate of return
requirements, nor a government guarantee of benefits. There are some minor restrictions on
borrowing and the use of derivatives and investments in the shares and property of employer
sponsors of funds. As a result, superannuation funds tend to invest in a wide variety of assets with a
mix of duration and risk/return characteristics.
In an efficient market at any point in time the actual price of a security will be a good estimate of its
intrinsic value. An efficient–market is defined as a market where there are large numbers of rational,
profit–maximizers actively competing, with each trying to predict future market values of individual
securities, and where

Sop Essay
My extensive legal knowledge, proven problem–solving abilities, and well–developed interpersonal
communication skills are key reasons why I would be suitable for this role. I am a highly passionate
and proactive individual, who is dedicated to achieving exceptional results for all clients. I possess a
Bachelor of Law and Commerce from Bond University, together with a Graduate Diploma in Legal
Practice, and a Practicing Certificate from the Queensland Law Society. Accordingly, I have
advanced technical knowledge, excellent supervisory and problem–solving abilities. Such abilities
are evident within my current role as a Claims Advisor for Suncorp Insurance, where I am
responsible for managing a range of Queensland Compulsory Third Party ... Show more content on
Helpwriting.net ...
In addition, I regularly researched and analysed procedures, policies, legislations, and regulations to
suggest and develop more effective strategies for the negotiation and settlement of claims. Thus, I
achieved optimal results for both clients and insurers, while also providing innovative strategies that
maximised service delivery. I also established protocols and guidelines for running TPD claims
under superannuation fund policies, thereby contributing to process improvements. Moreover, I
possess natural leadership skills, with the proven ability to manage workflows and motivate others
to reach their maximum potential. While working with Littles Lawyers, I provided internal advice to
team members pertaining to Superannuation/Total Permanent Disablement (TPD) claim files, and
likely prospects for those claims. I believe in working closely with both clients and team members
to facilitate open, honest dialogues, and achieve positive human outcomes I am also highly
adaptable, with the ability to respond to fluctuating priorities and demands. This is exemplified via
my role as a Claims Advisor for Suncorp Insurance. As each claim varies in detail, I am required to
show a high degree of flexibility and technical knowledge to review claim files, employer records,

Australian Resident Case Summary
This case study is to discuss whether Ernie is an Australian resident for tax purpose. If he satisfies
any one of the residency tests in s 6(1) ITAA36 he will be determined for the year or part of the
year. It is to determine which part of his income is to be taxed for the year June 2016. If he is a
resident, he will be taxed on all income sources. If he is not a resident, he will only be taxed on
Australian sourced income.
Ordinary Resident Test (ORT)
Firstly, we have to consider the primary test of residency in the definition of "resident" in s 6(1), a
taxpayer will be a resident if they reside here. This is a question of fact to be determined based on
the taxpayer's individual circumstances.
In Levene (1928), the court suggested that "resides" means to dwell permanently or for a
considerable period of time. Ernie is in London for a year, which seems like a considerable period of
time. In Joachim (2002), the physical presence of the taxpayer is not a determinant of the issue, but
still a resident due to family ties. Ernie has both social ties in Australia and in London. In Lysaght
(1928), the court found that the taxpayer returned to the UK weekly and is considered as a resident.
Ernie did not visit Australia during his stay in London. Question act and decided on a case by case
basis with reference to different factors. ... Show more content on Helpwriting.net ...
The following facts, based on the ATO guidance in TR 98/17, the commissioner suggest that Ernie
'resides' in Australia:
Ernie is not physically present in Australia during the tax year as he was in London;
Ernie went to London for a period of 1.5 years from February 2015 to late July 2016 and did not
come back to Australia during his stay in London;
Ernie's purpose of abroad is to work;
Ernie remains his family and social ties in Australia, he also grows new ties in

Accounting Is The System Of Collecting
FNSINC401
Part 1
Accounting
Accounting is the system of collecting, summarising, measuring and interpreting financial
information for a business or individual for the assistance of financial and business decision making.
Accounting, affectionately dubbed "the language of business", analyses business activities,
investments, and expenses and reports this information to a client. Accounting covers a broad range
of activities including but not limited to tax, financial accounting and statements, bookkeeping,
financial advice and planning.
Accounting is a regulated business, having to operate under a regulatory board. In Australia, the
regulatory boards are, Certified Practising Accountants (CPA), Institute of Public Accountants (IPA)
and Chartered Accountants (CA).
Responsibilities – Receiving and paying accounts, analysing reports and balance sheets, prepare
financial statements, computing taxes and calculating income, developing budgets and financial
goals and projections, collecting and entering data, payroll, etc.
Banking
Banking serves as an intermediary or middle man in the financial industry for payments, deposits,
loans, and investments etc for a client.
Banks, an institution of finance, accepts deposits from the public and keeps their money secure, and
then using that deposited money and the banks own capital and assets creates credit in the form of
loans, mortgages, credit cards.
Responsibilities – Managing deposits and withdrawals, supplying loans (personal,

Case Study Of An Australian Tax Law
It is necessary for Jenny to be an Australian resident according to ordinary concepts. Tax rulings
98/17 assist to determine the residency of a person. In this case, Jenny is physically present in
Australia. Additionally she leased an apartment for 9 months. She considers this apartment as her
home during her stay. Moreover, her parents visit her two times. These are enough reasons for Jenny
to be Australian resident for taxation purposes. So, Jenny is regarded as a resident of Australia.
Domicile test
It is apparent from Jenny's activities that she has intentions to make Australia as her permanent place
of abide. It is her original intention to live in Australia for more than one half of year as she leased
an apartment for nine ... Show more content on Helpwriting.net ...
According to Moorhouse v Dooland, all the earnings from personal exertion may be considered as
ordinary income. If there is enough connection between the individual service and the receipt then it
will be regarded as ordinary income. If the payment is not assessable as ordinary income but it can
be assessable under section 15–2 of Income Tax Assessment Act 1997, as statutory income. The
important factor here is to identify whether the person has given up some valuable rights.
Application:
a) $100000 annual salary:
It is clear from the facts that $100000 is her salary, so it is assessable as ordinary income. It is a
service from personal exertion. This amount is annual so it is regular and periodic. There is a
sufficient nexus or flow between the receipt and her personal service. Hence, it is evident that
$100000 is ordinary income because it satisfies the characteristics of section 6–5 of Income Tax
Assessment Act 1997. It can be further explained in relation to Arthur Murray (NSW) Pty Ltd v FCT
(1965) , which shows that the income is only assessable when it is derived and earned.
b) $400000 lump sum payment:
In the case of $400,000 lump sum amount, if there is satisfactory connection between the receipt and
her personal service then this amount will be considered as ordinary income. However, under
section 15–2 of Income Tax Assessment Act 1997, it may be considered as statutory income if there
is any benefit, bonus and if

Poverty In Retirement In Australia
Every Australian deserves a good retirement income that ensures they are not at risk of poverty in
older age and that income should be guaranteed by the state. Discuss. Introduction Issues stemming
from older people's restricted access to financial means in retirement, has now more than ever
become an increasing problem with "more than one–third of Australian pensioners living below the
poverty line" (Browne, 2016). Older people are financially supported in retirement in Australia
through: a means tested age pension, a compulsory employer contributed superannuation fund and
voluntary contribution to superannuation. Through the lens of a life–course approach those who are
most at risk of living in poverty in retirement are women who have taken

Retirement Income Is A Big Issue Essay
Retirement income is a big issue in most developed countries. In the years past, it was not
uncommon for elderly to live with and be supported by younger relatives therefore reducing the
need for income. Although this is still customary in many parts of the world such as Asia, it is
becoming more normal for our older population to still continue to live an independent lifestyle.
Aging populations also reiterate the need for retirement plans. Where the normal average life
expectancy for males in the 1950s was only sixty–seven and seventy–one for females, it's now
common for women to live for an average of eighty–three years with men slightly behind at
seventy–nine years (Statistics New Zealand). By 2036, it is expected that between twenty–one and
twenty–four percent of New Zealanders will be aged over sixty–five, whereas in 2012 the figure sat
at only fourteen percent. With statistics like these it's more important than ever to make sure our
elderly are provided for in their later years when they are no longer willing or able to work. The way
in which different governments go about acquiring funding for this income varies from country to
country; here we will look at the different systems in place to cater for our elderly here in New
Zealand and compare these to that of the USA and Australia.
First this essay will look at the different sources of retirement income in place around the world. We
will then look at New Zealand's retirement system and how it uses these sources

Big Think University Procedure Document For Ill Health.
Big Think University Procedure Document for Ill health. 1 Purpose To ensure that any
Termination/Dismissal due to Ill health made by Think Big University meets required legal
requirements, and is handled in an appropriate and proficient manner. 2 Scope This Procedure
Document applies to all prospective and current Employees of the University. 3 Procedure Overview
The University requires that an employee who can not perform the duties of their employment due
to Ill health undergo a medical examination by the universities chosen medical practitioner at the
expense of the university. If it is found that the employee will be unable to resume their duties
within 12 months, the employee will be given the opportunity to resign or be ... Show more content
on Helpwriting.net ...
If a resignation is offered under these circumstances the University will accept the resignation and
not proceed with the actions required to terminate the Employees employment. If the Employee fails
to undergo a medical examination within three months of the written notice to do so, this will be
seen as confirmation that the Employee is unable to perform their assigned duties, and the
University may then proceed with the appropriate action to terminate the Employees employment.
The Employee can within 14 days of the medical report being made available, request that the report
is confirmed by an independent specialist agreed between the University and the Employee or by a
panel of three medical practitioners. The panel and or specialist will as far as possible use the same
standards as would be used by the Employees Superannuation fund in determining the Employees
eligibility for the payment of a disablement pension or other similar benefit. When an Employees
employment with the university ceases due to ill health, the number of continuous service required
to be entitled to long service leave will be five years. If the Employees superannuation fund deems
that the said Employee is totally and permanently incapacitated and it is unlikely that the Employee
will be able to return to their duties in the foreseeable future, the University may terminate the

How Have Social Policies and Changes to the Australian...
How have social policies and changes to the Australian welfare state affected the aged population.
In 1901 just 4.0% of the Australian population were older people and after two decades this has
increased to 6.4%. In 2011 the aged population continued to increase and reached 14%. The
Australian Bureau of Statistics (Abs.gov.au, 2012) indicates that since the baby boomers are now
becoming old, there has been a decrease in fertility rates and an increase in life expectancy. The
population of people over 65 years has continued to increase and it is predicted that it will continue
to increase for the next 50 years. As people become older they are more susceptible to becoming
sick and in need of government benefits. Since there is a major ... Show more content on
Helpwriting.net ...
Joe Hocking defends this significant rise with the fact that our life expectancy has increased as
opposed to when the pension was implemented 100 years ago and that our current economy can no
longer support the increasing expenditure of the age pension. Even with this cost benefit to our
economy, (Chomik, 2014) points out definite inequalities that would develop from this. For example
older people within the workforce are already often discriminated against when seeking employment
as they can be seen as a negative long term investment in terms of training. Joe Hocking's argument
on the rise of life expectancy seems ill supported when considering the fact the financially poor
individuals have shown to have a lower life expectancy in comparison to the rich, thus resulting the
inequality of the poor being able to enjoy less years of their retirement.
In conclusion, Income security has had insignificant change however the introduction of compulsory
superannuation's are steps forward in trying to provide adequate standard of livings through
privatisation. There are conflicting views over such policies as not everyone has benefited. Australia
will always have some level of unfairness between our social sectors, however the main benefiters
of the superannuation guarantee and the age entitlement to access pensions seems to be the already
well–off sectors. Perhaps a way to avoid this is to increase

Income Inequality In Australia Essay
Australia's distribution of income and wealth has worsened as market forces operate more freely in
the economy. The recent transition from a manufacturing economy into a services economy has
wider implications towards the distribution of income. The widening of income and wealth
inequality is a result of labor market decentralization, capital gains tax and superannuation tax,
globalization and the resources boom leading to a rapid economic growth. Inequality results in
several economic costs and benefits as well as longer lasting social consequences. Income inequality
is the degree to which income is unevenly distributed among people in an economy while wealth
inequality is the unequal distribution of assets within a population. Both can ... Show more content
Tasmania suffers the lowest income of $726 per week while Western Australia and Northern
Territory earn $934 and $1013 per week as the median disposable income. As Western Australia and
Northern Territory were the regions that contained the largest shares of economic activity in mining.
Furthermore, in NSW, the population living in the capital city area earn 25% more than those in
rural areas while their asset values are worth 47% more than those in other regions. Thus areas
which benefited greatly from the mining boom increased income inequality in

The Effect of the Australian Superannuation Guarantee on...
Ellis Connolly (2007): 'The Effect of the Australian Superannuation Guarantee on Household Saving
Behaviour' This research paper examines the causal effect of Australia's Superannuation Guarantee
on household saving behavior to determine the extent to whether compulsory pension schemes have
a positive impact on household wealth and their subsequent retirement incomes. The purpose of this
study is to explore whether Superannuation Guarantee is an adequate framework as a vehicle for
saving for retirement, as it encourages households to provide for themselves in retirement, rather
than rely solely on the age pension or the PAYG social security programs. By focusing on the
influence of compulsory pension accounts on household wealth, voluntary saving for retirement, and
timing of retirement, this paper attempts to explore these areas in order to gain an understanding of
how households change their saving behavior in response to Australian's Superannuation. Data
collected from the Household, Income and Labour Dynamics in Australia Survey (HILDA) has been
studied to measure the wealth of households with low–income and for those with high income, in
order to analyse a diversity of households with different financial backgrounds, and determine
whether the presence of financial constraints influence the amount of contributions made into their
pension accounts. Furthermore, households that are exempt from compulsory pension contributions
are also observed. Have compulsory pension

Investing in a Plan for Retirement: Are You Prepared for...
Options for Retirement
The majority of people age 65 or older in the United States are still working in full time positions.
This opens the question if they planned for retirement, or what if anything went wrong while
working? How do they feel about still having to work? Have they taken proper steps in preparing for
retirement? Are they only working to pass time? These are the questions that everyone should be
asking themselves about their own retirement plans, and what they have done to financially prepare
for that stage in their life.
It is never too early to start planning for the retirement. In today's economy there are no guarantees
that there will be sufficient funds coming from Social Security when an individual reaches the time
... Show more content on Helpwriting.net ...
In the private sectors retirement packages do not transfer between different companies; therefore if
an employee decides to switch careers after working for twenty years chances are their accrued
benefits package will not be transferred to the new company. Predicting the future is impossible, no
one will know if a company may go bankrupt or expand, but there is a plethora of ways to ensure a
comfortable retirement will be available when that point in life is reached.
Planning, just like saving for the future does not always come natural to a person and a lot of times
has to be recommended by professionals. It takes personal discipline along with dedication to follow
a good retirement plan. In order to achieve personal goals for retirement there has to be a plan of
action to obtain success. Proper planning for retirement will also provide a positive outlook for that
stage of life.
In the beginning stages of planning personal attainable goals should be set. They can be short term
or long term goals, depending on what is necessary to stay on track and maintain focused. Many
retirees consider relocating due to the cost of living expenses at their current location, wanting to
live closer to family, or simply to a place they had always dreamed of spending the rest of their lives
at.
To be able to figure out the amount of income needed, the preferred lifestyle should also be
considered when starting to draft a retirement plan. A financial advisor

Australia Superannuation Essay
When a new employee joins your company, he or she may nominate their preferred super fund. If it
complies with superannuation law, and the employee has given you all the appropriate information,
then you must pay the necessary super contributions into that fund. Likewise, an existing employee
can notify you of their nominated super fund at any time.
CPS supports the proposed primary objective of superannuation being able to provide income for
retirement to substitute. Enshrining this objective in legislation is an important step in safeguarding
Australia's retirement income system for the citizen of Australia. It is critical that the long–term
sustainability of the superannuation system is not undermined by shorter–term political objectives
due to the fact thinking that the retirement income system wouldn't provide accurate income. ...
Show more content on Helpwriting.net ...
It should be clarified that superannuation represents a substitute to the Age Pension on an individual
level and that at a macro level the Age Pension will always be available for those who need it and
take retirement. The provision of the Age Pension recognises that the superannuation system does
not work for all Australians, low income earners, those who work part time or those who leave the
workforce to provide care or due to health issues. Policy makers must understand that the
superannuation system works alongside the safety net provided by the Age Pension and cannot be
viewed in isolation or as an eventual replacement of direct transfers to

Taxation Law
TAXATION LAW
WRITTEN GROUP ASSIGNMENT
PART A
ISSUE 1:
Is Andy a resident of Australia for the purpose of income tax?
RULE:
S6 (1) ITAA 36 – definition of "resident"
There are four alternative tests helping to decide whether a person is a resident of Australia or not.
An individual needs to satisfy at least one test to prove residency.
(1) Common Law test; (2) Domicile test; (3) 183–day test; (4) Superannuation test
APPLICATION:
(1) Common Law test
According to ordinary concepts of "resident", an individual should satisfy the "Common Law test".
In this particular case, Andy spends the last three years working in Thailand, having signed a
contract with a Canadian company in Australia, which doesn't fulfill ... Show more content on
Helpwriting.net ...
(3) 183–day test
The 183–day test is satisfied when a person who has actually been in Australia, continuously or
intermittently, during more than one–half of the year of income.
In the given case, Andy spent most of the year working in Thailand and he only got back to meet his
family in Australia one month every three months. Therefore, he does not satisfy this test.

(4) Superannuation test
As there is no sufficient information regarding Andy's superannuation, the test is not applicable here.
CONCLUSION:
As can be concluded by the above test and analysis, Andy satisfies the Common Law test and
Domicile test. Even though the 183–day test is not satisfied and the superannuation test is not
applicable, we can still be sure that Andy can be considered as a resident for the purpose of income
tax assessment.
ISSUE 2:
How should Andy's salary and investment income be taxed?
RULE:
S6–5 (2) if you are an Australian resident, your assessable income includes the ordinary income you
derived directly or indirectly from all sources, whether in or out of Australia, during the income
year.
S6–10 (4) if you are an Australian resident, your assessable income includes your statutory income
from all sources, whether in or out of Australia.
S4–1 and S4–10 ITAA97:
Income tax = (taxable income * rate) – tax offset
Where taxable income = assessable income – deductions
APPLICATION:
Both the income of

Pros And Cons Of Increasing Australia's Population
Australia's population is currently 23.8 million. In 1960 it was 10 million. What should it be in
2050?
Australia's population is currently 23.8 million and is still growing. In 1960 it was 10 million and at
this rate it is expected to reach 42 million by 2050. The population growth and natural increase rate
of Australia is affected by The Baby Bonus and Paid Parental Leave and the ageing population
structure and The Pension, as well as the current spatial distribution of Australia with policies such
as Satellite Cities. Using these policies and statistics the optimum population for Australia is 25
million. There is no clear right or wrong answer to the optimum population; it all depends on the
opinions of Australians.
Population Growth ... Show more content on Helpwriting.net ...
Australia's population growth rate is at an alarming 2.1% increase per year. According to ABS
(Australian Bureau of Statistics) "periodically there is debate within Australia as to how big or small
our population should be in the future. This sparks interest in what is driving growth, and what
would happen to the size and structure of Australia's population if these drivers were to change."
Due to the rapid increase in population, a bigger Australia means it will lead to significant
difficulties, an example of this would be that the government will have to increase the amount of
money to go towards a baby bonus. The higher the amount of the baby bonus the more likely it will
encourage people to have children by assisting with initial costs and hence affects the fertility rate to
create a larger

Data Analysis Research Report
| | | Rebecca RoyN8586799Tutor: Jenny Houtsma | [BSB123 – Data analysis research report] |
Analyzing the relationships between different variables in relation to one year returns within the
superannuation industry. | Contents 1.0 Introduction 2 2.0 Outliers 3 3.0 Historical Analysis 4 4.0
Current Data (One Variable Analysis 5 5.0 Bivariate and Trivariate Analysis 6 5.1 Impact of
Investment Strategy on One Year Returns 6 5.2 Impact of Three Year Returns on One Year Returns 8
5.3 Impact of Investment Strategy and Three Year Returns on One Year Returns 10 6.0 Conclusion
11 7.0 Appendix 12 1.0 Introduction Superannuation is something that is relevant to all working
Australians and making the ... Show more content on Helpwriting.net ...
Within these two categories there are different options in regards to risk and return levels, both of
which run parallel to each other meaning the higher the risk the higher the rate of return. The below
graph (Figure 3) shows the average one year return for each of the investment strategies. Figure 3 –
Average One Year Return Figure 3 – Average One Year Return Each strategy will be used in a
different way or 'style,' leaving funds of the same strategy with varying results. For example
Australian Equity had an average one year return of –6.76 per cent, while Australian Fixed Interest
had an average one year return of 6.99 per cent. Comparing the average one year return for each
strategy illustrates which funds have the most reliable or steady rate of return, and in this case the
most reliable funds are those with fixed interest. This is coherent with the risk factors associated
with the different strategies, even though fixed interest is considered low risk and offers low returns,
these returns are more reliable than strategies with a high risk, and therefore still perform positively
under times of economic crisis. After one year, all superannuation strategies offered returns between
–0.20 per cent and 0.15 per cent, and are exemplified in the graph below (Figure 4). Figure 4 –
Impact of Investment Strategy on One Year Returns Figure 4 – Impact of Investment Strategy on
One Year

Financial Planning (Insurance) Case Study
Diploma of Financial Services (FP) Case Study It is November, 2010. You are an authorised
representative of a full–service licensed dealer group, Azza Financial Services Pty Ltd. Allison and
Simon Callahan have come in to see you to ask for your assistance to plan out their next five years
and then help them settle into retirement.
Allison (aged 54) and Simon (aged 52) have been married for 29 years and live at Lot 3 Wattle
Road, Hurstbridge, Vic. Their only child, a daughter, Megan, is independent and has two children.
Allison has recently been promoted by her employer, Best Marketing, and now earns $135,000 p.a.
working full time. She has commenced salary sacrificing 30% of this amount ... Show more content
a) Give some thought to the sort of things you would cover. Include any legal requirements and
other documentation which may be helpful in the interview.
For the initial interview with the clients I would cover what Azza financial services stands for, their
commitment to the customer and any legal implications, go over the financial services guide (send
out with letter before hand) and privacy policy and compliance. I would also make the customers
aware that the information they are providing is to be used solely for the purposes of assessing their
situation to help them get to a better financial position. I would allow the customers to do most of
the talking, recording their responses in a fact finder, and ask the client to complete a risk profile
questionnaire to get a feel for what their financial position is at the present, what kind of
expectations they have on Azza financial services, how much risk they are willing to take on and if
there is anything about their situation that might prevent Azza financial from providing advice to the
client.
b) How might you ask the client to prepare for the first meeting?
By sending a confirmation letter indicating how long the interview will likely be, the purpose of the
interview and what is the outcome intended, advising the client if there are to be any fees paid,
providing the client with a list of

Why Is It Important To Pay To Tax In Australia
1. Australia has an income period year; 1st July to 30th June every year, it must pay to tax of income
for each financial year and tax season from 1 July to 31 October under section 4–10 ITAA 1997.
Also, someone reside in Australia, they should pay taxable income also calculated amount before
income over expenses and deducted allowances of deduction items. Therefore, if someone wants to
move out and lived in Australia, they should need to some test of tax purposes then they will be a
resident of Australia. The first resides test is that people have considered an Australian resident for
tax purposes if so people do not have to any apply some tests. However, first test; resides test was
not satisfy, it will apply one of three statutory test ... Show more content on Helpwriting.net ...
Residency test of Domicile test – an Australian resident if someone domicile; the place that is
permanent home in Australia, unless they are satisfied that someone permanent place of abode is
outside Australia.
Residency test of 183 day test – actually present in Australia for more than half the income period
year, whether continuously or breaks, you have a constructive residence in Australia, unless it can be
established that your common place of abode is outside Australia and you have no intention of
taking up residence here.
Residency test of the Superannuation test – this test ensures that Australian government employees
making at Australian posts overseas are treated as Australian residents.
Residency condition for tax purposes is important because, it helps determine we are liability to pay
Australian income tax. If someone has a visa issued by the Department of Immigration and Border
Protection, your visa may have some reference to you being a resident. Using this tool may help you
to determine residency status for tax

Sample Resume : Australia Business Regulations
Establishing Unitable
Australia Business Regulations [1]
[1] Department for Manufacturing, Innovation, Trade, Resources and Energy, A Guide to Starting a
Restaurant / Café / Take–away.
http://www.dmitre.sa.gov.au/files/1037_restaurant_and_catering_guide.pdf?v=128
The following applications need to be submitted for UniTable to start formally and operate as a local
business in Adelaide:
Requirements Relevant Department
Register as an Australian Company Australian Securities & Investment Commission
Apply for an Australian Business Number Australian Taxation Office
Register UniTable LTD as Business Name Australian Securities & Investment Commission
Register UniTable as Trade Mark Intellectual Property Australia
Notify local government
about ... Show more content on Helpwriting.net ...
[5] It collects revenue for the Australian Government from income tax, Goods & Service Tax, and
other federal taxes. [6]
[5] https://www.ato.gov.au/About–ATO/About–us/
[6] http://en.wikipedia.org/wiki/Australian_Taxation_Office
Thirdly, in order to establish UniTable as the legal trademark for UniTable LTD to market itself the
and app to its potential users, UniTable needs to apply to the Intellectual Property Australia which
governs the registration and protection of trademarks. After successful application, UniTable will
have "exclusive rights to commercially use, license or sell it for the services that it is registered
under". [3] [3] http://www.ipaustralia.gov.au/get–the–right–ip/trade–marks/
Last, as UniTable is a food related business, it is our responsibility to notify the Adelaide local
government of UniTable. The Adelaide City council, locating on Pirie Street, is the most frontier
part the local government, which governs over all public activities in Adelaide. That is why it is
required that a new food related business must submit a notification, so that the city council can
better monitor the city in food–safety–related aspects.
Employee related requirements
When UniTable is employing, it is required to hand in certain taxes for the employees to the
Australian government or some compensation for the employees. Below aspects should be
considered for UniTable to comply with the Australian legislations.

Gender Pay Gap In Australia
Although workplace equality usually doesn't dominate the headline, recently debate resurfaced
regarding the gender pay gap which has been drawing attention.
Despite sweeping economic and social changes in Australia, the gender pay gap remains unchanged.
At the current rate the Workplace Gender Equality Agency estimates it to take 50 years for women's
average income to be equal to that of men in Australia. That is in a well developed first–world
country, other countries including second and third–world countries are beyond imagination.
Narrowing the gender pay gap would not only result in equal income but also boost Australia's
economy. Government data shows that the average gender pay gap for full–time employees is 23.1%
resulting in women

The Effect Of Superannuation On Australia 's Economic...
The concept of superannuation was introduced through the Superannuation Guarantee (SG) with the
idea of managing, accumulating and growing assets of members so that once retirement arrives they
can enjoy a higher standard of living without concern for a shortage of income when retirement
occurs, they arrive in the form of pension, lump sums or both. It is further explained by Dawkins
(1992) that our current retirement income system was weak and that there was a need to strengthen
Australia's national saving performance. He stated "Greater domestic saving will relax the current
account constraint on Australia's economic performance. It will mean that we can grow faster
without relying so heavily on foreign saving and building up an ... Show more content on
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Super funds are either accumulation funds or defined funds, accumulated contribution funds are the
most common type of superannuation fund and they act as a bank account, however the benefits
made by them are not capital guaranteed which means that the benefits may be depreciated due to
negative investment returns. These are the sorts of investment risks that comes with superannuation.
Administration charges, policy fees, insurance premiums and taxes are deducted from members
account. Defined benefit funds are based off a formula using the member's final salary and the years
of their employment. This fund also holds investment risk as if the investment is too high the
amount that the employer is required to contribute to the fund can reduce and contributions may not
be needed. The Financial System Inquiry (FSI) released a recommendation stating "Seek broad
political agreement for, and enshrine in legislation, the objectives of the superannuation system and
report publicly on how policy proposals are consistent with achieving these objectives over the long
term". This phrase was directed at the government with respects of them agreeing with the intent of
the superannuation system for providing income within retirement instead of relying entirely on the
age pension. However, that isn't the only objective of the superannuation system, the objectives
branch off into multiple subsidiary objectives such as

Fred's Applicability Case Study
The report aimed to discuss whether Fred is a resident of Australia and should be taxed from all
sources of income or only from income sourced in Australia. Applicable case law and legislation
were presented to support the evaluation.
ITAA 1997 Section 995–1 provides that the meaning of an "Australian resident" is defined in ITAA
1936 Section 6 (1), which sets out different criteria for determining the residency of individuals and
companies. There are four tests to ascertain that an individual is a resident or not. An individual need
only to satisfy one of these tests to qualify as a resident for tax purposes. These tests are the ordinary
concept test, the domicile test, the 183–day day test and the superannuation test.
To assist in determining the residence of a person under the ordinary concept, the following factors
need to be considered: physical presence in Australia; if the person is a visitor, the frequency,
regularity and duration of visits; the purpose of the visits to Australia and abroad; the maintenance
of a place of abode in Australia for the taxpayer's use; the person's family business and social ties;
and the person's nationality.
In the case of Levene v IRC, the House of Lords agreed that the taxpayer ... Show more content on
Helpwriting.net ...
The Court concluded that a "permanent" place of abode did not mean one that was everlasting
forever but rather one that was permanent in relation to a particular year of income. While the
taxpayer might plan to return to Australia at some point in the future, his abode in Vanuatu was a
permanent one until he made a decision to cease to reside in Vanuatu and to return to Australia. The
approached taken by the Federal Court in Applegate also applies in FCT v Jenkins, where the Court
concluded that the taxpayer had a permanent place of abode outside Australia during his time in
Vanuatu. The taxpayer was not a resident for the tax years in

The Superannuation Fund Industry And How. Hypothetical Fund
TABLE OF CONTENTS 1. Introduction2 1.1. Purpose2 1.2. Background information2 1.3. Scope2
1.4. Limitations2 2. Background Information3 2.1. Objectives3 2.2. Microenvironment3 2.3.
Industry performance3 2.4. Products and services4 2.5. Life cycle stage4 2.6. Types of funds5 3.
Superannuation Fund Industry (SFI)6 3.1. Appointing fund and company–allocation6 3.2. Company:
investment options6 4. Performance and Fund Comparison7 4.1. Performance7 4.2. Fund
comparison9 5. Conclusion10 6. References11 Introduction 1.1 Purpose The purpose of this report is
to analyse the superannuation fund industry and how hypothetical fund of $100,000 will be
allocated to a specific superannuation company. 1.2 Background Information ... Show more content
2.2 Microenvironment – Competitors For a company to be successful, they "must provide a greater
customer value and satisfaction compared to their competitors" (Kotler, Burton, Deans, Brown,
& Armstrong, 2013, p.118). AustralianSuper is the top player in the SFI (4.8% market share),
followed by Commonwealth Bank of Australian, AMP Limited and others. However, barriers to
entry and competition are high between the different companies in this industry due to the minimal
differences between products offered (Wu, 2016). Figure 1: This image depicts the major players in
the Superannuation industry (Wu, 2016). 2.3 Industry Performance Over the last five years, industry
revenue has moved largely in line with share market performance, given the significance of
investment income in the industry (BNP Paribas, 2015). According IBIS World's Superannuation
Industry report, industry revenue is forecasted to grow at an annualized rate of 3.6% over the five
years through 2015–16 (with a current year decline of 6.4%) to reach $259.4 billion (Wu, 2016). 2.4
Products and Services According to IBIS World Industry Report K6330 titled Superannuation Funds
in Australia dated April 2016, Small funds make up 30.1% of the industry, retail funds are about
27.3%, industry funds about 22.1%, public sector funds

Home Ownership Has Long Been Considered The Epitome Of
Home ownership has long been considered the epitome of success within Australian culture. A 2008
literature review highlighted almost 70% of the Australian population fall into two distinct
categories on home ownership: outright ownership and mortgage repayments, (University of
Western Sydney Urban Research Centre, 2008, p. 4). Outright home ownership comprises
approximately 34% of the Australian population in the first category. Approximately 35% of the
Australian population are currently repaying loans after obtaining a mortgage from an approved
financial institution. Renting comprises approximately 29% of the current Australian population,
(University of Western Sydney Urban Research Centre, 2008, p. 4).
There appears to be a variety ... Show more content on Helpwriting.net ...
The average household income required to purchase property in Melbourne was $79,266, (Core
Logic, 2016, p. 12).
ADVANTAGES OF USING SUPERANNUATION TO PURCHASE A FIRST HOME
The Australian Federal Government in recent years announced a contentious proposal in which first
home buyers should access their initial superannuation savings to purchase their property. Most
recent data from the Australian Bureau of Statistics (ABS) as of February 2015 highlighted the
increase in first home buyer population in their early thirties to forties by 57%. This is in contrast to
the greater number of first home buyers aged in their early twenties and thirties when housing was
more affordable, (Marinos, 2015).
The proposal for first home buyers using superannuation savings to finance the purchase of their
first home was raised initially by now current South Australian senator Nick Xenophon and former
Treasurer Joe Hockey MP back in 2014, (Marinos, 2015). The proposals forwarded by the South
Australian independent senator are meritorious for two reasons. Firstly, home buyers seeking to gain
ascendancy onto the real estate market can do so by purchasing property via superannuation funds,
(Gadd, n.d.). Secondly, using a proportion of superannuation savings could result in the creation of
affordable housing and the prevention of real estate speculation. The South Australian senator cites a
housing affordability measure currently operating in

Estate Planning : An Issue That Affects All Individuals
Estate planning is an issue that affects all individuals. When looking at estate planning the concepts
of superannuation, trusts and wills become of great importance. Depending on the individuals
circumstances one estate plan may be more beneficial than another when taking into consideration
their personal changing circumstances as well as their intended beneficiaries. Correspondingly a
concern can lie with an individual 's net worth, individuals of a higher net worth may require a more
stringent estate plan in order to protect their assets to ensure they get distributed accordingly without
unnecessary contest, as well as tax evaluation which reaches onto beneficiaries in order to obtain an
optimal result.
A major consideration of estate ... Show more content on Helpwriting.net ...
When this individual dies the value of their fund will be paid out to the dependants they have
nominated. These dependants can be defined as spouses, children, financially dependant individuals
as well as interdependency relationships (Superannuation Industry Act 1993, S10 (1)).
Additionally, through superannuation a binding nomination can be imposed on the fund. This may
be an important consideration in the case of a high net worth individual who has either been
remarried, has children from other relationships or is involved in a same–sex relationship. Through
imposing this nomination an individual can increase the certainty of the fund going to the desired
persons being the nominated beneficiary whilst reducing the risks of challenges to the
superannuation fund. This would especially be important to high net worth clients due to the value
of their funds, this value may cause or increase the likely–hood of a challenge due to related
individuals wanting to obtain a proportion of the wealth; especially if they believe they are entitled
to some of the inheritance. A binding nomination reduces the need for the trustee to use their
discretion when the time comes to distribute the funds, as it has already been clearly defined by the
fund member who should be receiving the funds, the trustee has an obligation to adhere to this
binding nomination.
Superannuation benefits can be received in

Taxation Law Essay
Introduction Taxation law may be described as the body of law that governs liabilities of persons to
pay to the government. In this report, I will determine to Jack John's taxable income during the
given income year. So as to give proper legal advice to Jack Jones, I have to take into consideration
those issues, determine taxation residency status, determining assessable income for the year and
calculating deduction of the year. After all those issues discussed regarding Australian taxation law,
it possible proper advice to Jack John accordingly his assessable income and deductions. Taxation
residency status According to the taxation law, Australian residents require to assess their income
(ordinary and statutory income) which is derived ... Show more content on Helpwriting.net ...
Domicile and permanent place of abode test According to the Domicile Act 1982 and the common
law, an individual domicile is determined. The person's domicile is determined by his or her parents'
domicile. In the case, he owns a house in Vancouver, Canada that he shared with his wife and his
child before they come to Australia. Also, he does not have any property in Australia. All those facts
indicate that his permanent place of adobe outside of Australia. 183 days test According to the 183
days test, defining whether a individual is started residing in Australia and is not related for a
taxpayer is leaving Australia. if an individual has been Australia, irregularly or continuously, during
greater than 183 days of the income year, the Commissioner will conclude that his usual place of
abode is Australia. In this case, on the 1st of August 2015, he left Australia to work in Canada. Jack
worked for 9 months for Samsak in Canada. This means he already stayed over 183 days outside of
Australia. Commonwealth superannuation test Under Superannuation Act 1990, if a person is
member of superannuation scheme, an individual is Australian resident, or an eligible employee for
the purpose of Superannuation Act 1976; or a spouse, or child under 16, of a person covered by s
6(1)(a)(iii). Income Income from personal exertion Rewards for

Fred Carroll Case Study Essay
1
Case study 1: Residence and source
Issue
It is known that Fred has come to Australia to set up office for his British employer and is
accompanied by his wife while his teenage children attend college in London. His home is England
is rented in his absence and he has taken a home on lease in Melbourne. Taking into consideration
the above information, Fred's tax residency needs to be determined.
Rule
The underlying tax residency plays a vital role in ascertaining assessable income of a given entity. In
this regard, the tax ruling TR 98/17 comes handy as it enlists the various tests that the individual
could apply for obtaining the tax residency of Australia in a given year under assessment. The basic
details about these tests are highlighted below.(CCH, 2012). ... Show more content on
Helpwriting.net ...
Domicile Test – Fred does not have domicile of Australia. Test Failed. 2. 183 Day Test – Fred
satisfies the 183 day stay obligation but the given information directly or indirectly does not indicate
any plan on Fred's part to settle in Australia. Test Failed. 3. Resides Test – The reason for coming to
Australia is significant as it is related to employment for which he has already stayed 11 months and
stay is expected to be longer. He leads a life in the company of his wife which is similar to that
which he led in England. Thus, this test is satisfied. 4. Superannuation Test – Fred is not employed
by Federal Government. Test Failed. Conclusion
Since Fred manages to satisfy the resides test, thus for the current assessment year, he would be
regarded as an Australian tax resident.
3
References
CCH 2012, Australian Master Tax Guide 2012, 50th ed., CCH Australia Limited, Sydney
Coleman, C 2011, Australian Tax Analysis, 4th ed., Thomson Reuters (Professional) Australia,
Sydney:
Nethercott, L, Richardson, G & Devos, K 2016, Australian Taxation Study Manual 2016, 6th ed.,
Oxford University Press, Sydney, NSW
Woellner, R 2014, Australian taxation law 2014, 7th ed., CCH Australia, North Ryde
Case study 2: ordinary

Determining The Value Of Money Has An Influence On The...
Contents Introduction 2 Question 1 3 Explain the important factors that should be measured by
tertiary sector employees. 3 Question 2 4 Justify how the time value of money has an influence on
the potential investment returns and retirement savings of participants in both the Defined Benefit
Plan and the Investment Choice Plan. 4 Question 3 4 Examine retirement investment products which
are offered by UniSuper Ltd. In order to time value of money basic ideas and plans, which is most
attractive? Give examples of present or future values calculations. 4 Conclusion 6 References 7
Introduction For the employee of tertiary sector, superannuation fund is very popular fund. The
lowest level of interest of retirement fund is 9% which is ... Show more content on Helpwriting.net
...
For the tertiary sector superannuation fund is calculated based on benefit plan and investment choice
plan. This scheme is started by Australian Government to diminish the load as of social safeguard
system. The Unisuper Limited which is the biggest industry based on retirement fund, provides
services to the tertiary education division, is situated in Australia. Another development plan of
Superannuation fund is very significant to raise various options for retirement plan products and
services. In Unisuper Limited, it provides two types of plans and those are benefit plan and
Investment Choice Plan (Kristjanson–Gural, 2008). For preparing Benefit Plan, in the retirement
stage benefit plan is prepared for the employees with employee's average salary, total working hours
and present age of employees. In general, employees of tertiary education adapt benefit plan to
invest their salary in the Unisuper Limited. This benefit plan is not considered asset portfolio in
support of retirement plan. Therefore, all the employees of tertiary sector do not gated advantage
from this benefit plan. Unisuper Limited trustees are explained their plans with annual basis. In
other side, various employees of tertiary sector select Investment Choice Plan to earn invested
contribution. Annual allotment of investment is charged through administration and management of
this sector. In terms of Investment choice Plan,

Financial System Between Australia and Singapore
This research essay is done for the purpose to compare and contrast the financial system between
two countries chosen which are Australia and Singapore. This research essay is mainly concentrate
on different types of institutions in the financial system and the role they play. Moreover, the
different types of institutions in different countries will then compare in order to analyze the
similarity and differences.
There are three sections consists in this research essay. The first section stressed on the central bank
in Australia, the Reserve Bank of Australia (RBA) and the central bank in Singapore, the Monetary
Authority of Singapore (MAS). First of all, the history of central bank of each country was
discussed in order to view how ... Show more content on Helpwriting.net ...
MAS then take over the task to regulate the insurance industry in April 1977 and the function of
Security Industry in September 1984. MAS continued to take over the responsibility of money
issuance starting from October 2002. (MAS 2010)
Australia
Reserve Bank of Australia (RBA) is the central bank of Australia. RBA was formed in 1959 to
replace Commonwealth Bank of Australia. Commonwealth Bank was set up by the Federal
Government in 1911. RBA is responsible to take over central banking roles that previously taken
care by Commonwealth Bank. After the take over, RBA keep improving their banking system and
provide different banking services. The role of RBA is to perform the monetary policy in order to
preserve a strong financial system and subject to the Australian Dollar's currency.
Functions of the Central Bank
Government's Financial Agency
MAS and RBA have been actively involved in few functions in the banking environment. As a
central bank, MAS and RBA is also known as the Government bank. A government bank serves as
the banker or financial agent of the government. The government and the departments within the
government bodies are basically the major customer to central bank. According to the Economics
Explorer of Singapore, the central banks provide the government with the current account and other
financial infrastructures. It improves and manages

The Wealth Management Insudtry
3.3 Short–comings of the Industry
The wealth management Industry in Australia faces some major challenges that can hinder its
growth in the future. Following the financial crisis, the industry has witnessed a sea change in terms
of regulations, risk, increasing costs and the overall profitability of the industry. Investors are now
far more demanding of their wealth managers. At a time when returns are low, assets have suffered
losses and trust has been damaged, clients are far less willing to take the performance of wealth
managers for granted.
One of the primary concerns the industry is facing is the impact of the significant regulatory reform
agenda in Australia. In the aftermath of the global financial crisis, the global industry is under more
scrutiny and pressure to reform itself than ever before and the Australian economy is not any
different. According to (Financial Services Council/ PWC, 2011), top wealth management company
CEOs had mixed reactions to the recent FOFA legislations with support for the new uniforms being
far from unanimous. Although the CEOs of the top companies took reforms like introduction and the
taking up of advice and the proposed duty for advisors to act in their clients' best interests very
positively, the banning of commissions on superannuation and managed investments and volume
related commissions to advisory networks and independent advisors was not taken very well as it
cuts the margins of the wealth management companies considerably and

Australia's Superannuation Development
There were some major issues in Australia that motivated the superannuation development. During
the time, some values and beliefs were identified through the government's decision making.
The establishment of Superannuation Guarantee was a major step in Australian superannuation.
There were some key issues and concerns before it happened in 1992, and these issues were the
driver of superannuation establishment. Firstly, the increase of aging population was a major issue in
Australia; therefore, people believed that a comprehensive superannuation was necessary to provide
a better retirement (Chomik & Piggott 2012, p.354). Secondly, the government concerned about the
increase of national expenditure on age pension, as it was projected remain ... Show more content on
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Firstly, the neoliberalism believes that various social problems could be solved by a self–regulating
economy; therefore, the intervention of governments should decrease (Steger & Roy 2010, p. 12–
14). This influence can be found on the privatisation of superannuation, because the government
reduced controls on superannuation and emphasised on private management. Secondly, the
neoliberalism believes that the free market could direct human behavior; in addition, individuals
have to take responsibility for their own action (Treanor 2005). As the values of deservingness that
mentioned before, the government believed that hard working employees deserved a better
retirement. In the other words, the governments also promoted that lazy people had to take
responsibility for their insufficient retirement. Thirdly, the neoliberalism encourages an intervention
should involve various parties, such as labor unions and private business. In the superannuation
development, it was obvious that the Superannuation Guarantee was supported by Australian
Council of Trade Unions. Furthermore, the operation of Superannuation Guarantee also highly relied
on private business

The Growth of the Asian Economy
Asian Economy: The growth of the Asian Economy has had positive structural effects on the
Australian Economy. The trade volumes are at record high levels with China and the appreciation of
the exchange rates have provided a boost to the economy. There has also been a rise in the resource
investment, which has seen a reallocation of factors of production, which has lead to employment
growth in these sectors. The focus of the Asian economies is on the production and consumption of
goods and the commodity intensive nature of this rise has led to an increase in commodity prices.
This has led to an increase in the productive capacity, which supports the exports, employment,
incomes, taxes and wealth of the Australian population. The strength of the resource sector has had a
positive effects on the exchange rate which when combined with the stable inflation rate has led to a
significant increase in wage dollar of the working population (Plumb, Kent, & Bishop, Implications
for the Australian Economy of Strong Growth in Asia, 2013). Competition: Australia's asset pool of
over A$1869.5 billion (finnewsnetwork) has attracted many Investment Managing firms from US
and Europe. This amount is equivalent to 135% of the country's nominal GDP. The Australian
Economy is the 4th largest in the Asia–Pacific with the sophisticated finance and insurance
contributing 10.8% (A$118 billion) to the GDP. 17 out of the Top 20 Global Investment Managing
firms have an established presence in Australia

Why The Income Is Derived As A Contractor
Introduction
Toby is a highly competent pilot and has extensive amount of experience in flying aircrafts. He has
established a separate entity for the purpose of operating his business operations with an objective of
earning gains after covering the operational cost and training expenses of the business.
Toby works on contract roles for multiple positions depending client requirements. Toby gets the
compensation for his duties performed.
Legislations applicable under this case
In order to identify Toby's relationship with the employer several aspects need to be verified to
assess his tax implications. In order to consider whether the income is derived as a contractor we
need to consider whether this income has been derived from ... Show more content on
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You also need to be aware of: how you are taxed if some or all of your income is personal services
income any super guarantee entitlements you may have (Australian Taxation Office, 2013).
According to (Superannuation Guarantee (Administration) Act (Cth), 1992) makes it a mandatory
obligation for an employer to make superannuation contribution for the advantage of employees.
This act encompasses the employee with an elaborated description of employee. As per this act, if an
individual is working under contract that is solely or majorly for the purpose of the skills or
expertise of that individual then he will be considered as an employee in the eyes of law. Under
(Superannuation guarantee ruling 1, SGR 2005/1) it clearly describes the circumstances when the
employee will be considered as an employee. For ATO to consider the individual a deemed
employee the person should be compensated for his personal efforts and expertise, he must perform
the work by himself and there isn't any possibility of assigning the work to someone else and he
shouldn't be paid to achieve an objective but compensated for his efforts (CPAAustralia, 2013)
The Ruling specifically notes that an individual who contracts using an ABN may still be an
employee for the purposes of the SG Act (Superannuation Guarantee (Administration) Act (Cth),
1992).

Description Of AAustralian Occupant
Q.1 Residence and Source
An 'Australian occupant ' implies in s 995–1 ITAA97 as a man who is the visitor for the reason of
the ITAA36. The ITAA36 is extremely significance of "occupant" in specified in s 6(1). This
demonstration gives distinctive sorts of definitions for the people (para (an) and organizations (para
(b). the particular means is accessible underneath.
Living arrangement:
1. Resides test: The individual is an occupant in the Australia if the individual was lives into the
Australia. The guidelines and direction was not said in the enactment but rather it has conventional
importance. The Sborter Oxford English Dictionary was characterized the lives test importance in
fitting. The spot where the individual was dwelled is ... Show more content on Helpwriting.net ...
The home is characterized into the Domicile Act in 1982 and the custom–based law. Home means
the legitimate ideas. The spot of the residence that the spot was the place the individual has home.
As per the instance of R v Hammond(1852) 117 ER 1477 expressed that the a man was home where
the individual lives with his own family and rest at the night that spot of the home a man.
3. 183–Days test: The individual was occupant in the Australia on the off chance that he was really
and persistently in the Australia amid more or more than the one–half year wage. As per the S19 85
ATC 225, 183 days test does not was apply a man amid the year is occupant and the end of the year
he was not in the Australia.
4. Commonwealth superannuation test: The individual was an inhabitant in the Australia on the off
chance that he or she is 1)a individuals from the superannuation plans (Superannuation Act 1990),
2)an qualified workers of the motivations behind the Superannuation Act 1976, a kid or a life
partner under 16 or a man was secured 1 and 2 prerequisite.
Source
The meaning of the source in Nathan v FC of T (1918)25 CLR 183 by Issacs was expressed that
source was not a legitimate ideas but rather something identified with the pay. Source was
incorporated administrations pay, interest pay, rental salary, sovereignty pay and profit wage.
Conclusion

Taking everything into account, it was

Case Study On Tax Legislation Essay
Table of Contents
Case study 1 .............................................................. Page no. 2
Case study 2 .............................................................. Page no. 4
References .............................................................. Page no. 6
Case Study 1
Issue
How will Kit be taxable for his investments and income for the taxation year?
Relevant Legislation
ITAA 1997
Analysis
A person is said to be a tax resident of Australia by any of the four ways1.
a. Primary Test for tax resident status is Residency test. There is no definition of this test in the tax
legislation. In the test, resides means to live in a particular place for a considerable amount of time.
The behaviour of the person should show that his intention by way of his any act is to live in
Australia. It can be by way of the place to live, motive to come to Australia, Family or business
relationship ties, Assets located in Australia, etc.
b. Domicile test – When the primary condition could not be fulfilled, other test can be applied. One
is of domicile which means that the permanent place of residence should be Australia for tax
resident of Australia status.
c. Test of 183 days – It means that a person should be present in Australia for 183 days. Such no. of
days can be in running or in part of the tax year.
d. Superannuation Test – This test is applicable to the employees of Australian government working
overseas, but their family is residing in Australia. The spouse of such employee and if the child is
below 16

Superannuation
The Australian Economic Review, vol. 37, no. 2, pp. 184–90 Policy Forum: Long–Term Issues in
Superannuation Why Is Superannuation Compulsory? M. E. Drew and J. D. Stanford School of
Economics and Finance, Queensland University of Technology; and School of Economics, The
University of Queensland, respectively 1. Introduction Nearly all employees in Australia are now
covered by superannuation and superannuation accounts for a significant proportion of household
wealth. The expansion of superannuation has come as a result of decisions to make superannuation
contributions compulsory. The major policy decision for compulsory superannuation was the
introduction of the Superannuation Guarantee (SG) in 1992. It provided a pecuniary penalty, ...
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Thus, superannuation balances are illiquid and unmarketable assets with a long term to maturity.
Employees cannot, in general, engage in portfolio readjustment because of the lack of portability of
accumulated balances. The current system incorporates a number of aspects of compulsion: (i)
compulsory deductions from income under award superannuation; (ii) compulsory deductions from
income under the SG; (iii) compulsory deductions from income under occupational superannuation
schemes; (iv) compulsory direction of superannuation contributions to a particular fund and thus to a
fund manager whose investment decisions may not accord with the contributor's preferences; and
(v) compulsory retention of accumulated balances in a particular fund which may not accord with a
contributor's overall portfolio preferences. 3. Welfare Losses from Compulsion in Superannuation
Direct welfare losses occur because some people would prefer to contribute less of their earnings to
superannuation than is required under compulsion and would prefer higher current consumption or
to acquire greater amounts of non–superannuation assets. A preference for a lower level of
superannuation may be a rational 2004 The University of Melbourne, Melbourne Institute of
Applied Economic and Social Research 186 The Australian Economic Review June 2004
economic decision based on particular preferences and life circumstances. Factors which will affect

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