1 Are you an Australian resident for tax purpose for the income year 20XX-20XX?
1 No This ruling applies for the following period 30 June 20XX The scheme commenced on: XX XX 20XX
This private ruling is based on the facts and circumstances set out below. If your facts and circumstances are different from those set out below, this private ruling has no effect, and you cannot rely on it. The fact sheet has more information about relying on your private ruling. You were born in City A, Country A. You are a citizen of Country A. You first arrived in Australia on the XX XX XX and departed Australia on the XX XX XX. You later arrived back in Australia to live for a longer interval and officially made Australia your home. You migrated to Australia as a permanent resident (subclass visa), to work as a professional. You moved to Australia alone, while your parents and siblings remained in your country of birth. Upon your arrival in Australia, you rented a place and continued renting different place, until the time you left Australia. Prior to moving away, you lived in City B, in Australia. You do not own any property in Australia. You receive Income from personal investments and trades through a trading account. Your source of Income is dividends from an Australian Company. Company ABC is involved in general trading and investment. It is managed entirely remotely.
The company does not have any clients in the traditional sense. You are single and do not have any friends or family in Australia. Since arriving in City A on the XX XX XX you have remained in Country A. Your intention to move back to Country A was to provide ongoing support to parents. You have rented an apartment in City A under a formal 12- month lease agreement that began in XX XX XX. You have rented an apartment in City A and re-established your residential ties. Your tenancy period is for one year, starting as of XX XX XX - XX XX XX. Prior to leaving Australia, you sold or gave away all your personal belongings including your car and furniture. You cancelled your private health insurance and removed yourself from the electoral role. You no longer maintain personal or social ties to Australia and have no intention of returning to live there in the foreseeable future.
Income Tax Assessment Act 1936 subsection 6(1) Income Tax Assessment Act 1997 subsection 995-1(1) Issue Residency Question 1 Are you an Australian resident for tax purpose for the income year 20XX-20XX? Summary You have been a resident of Australia for taxation purpose since XXXXX. You will not remain a resident of Australia for taxation purpose, as you now reside in XXXXX for the foreseeable future. Detailed reasoning Section 995-1 of the Income Tax Assessment Act 1997 (ITAA 1997) defines an Australian resident for tax purposes as a person who is a resident of Australia for the purposes of the Income Tax Assessment Act 1936 (ITAA 1936). The terms 'resident' and 'resident of Australia', as applied to an individual, are defined in subsection 6(1) of the ITAA 1936. The definition offers four