Tasi was born in Tonga. He migrated to Australia as a child with his parents 25 years ago.

He currently lives in Melbourne and works as a chef. He is married to Alyssa a nurse. She was born in Australia. Alyssa also owns 1,000 Telstra shares.

Recently a typhoon that hit Tonga and Tasi felt the need to go back to Tonga and help. Alyssa as a nurse agreed to go with him as she would be able to assist the injured in the hospital.

They organised with the appropriate authorities to fly to Tonga on 4 January 2015.

Once there the Tongan Government provided them with accommodation, only.

Most of their time was spent in travelling to the remote islands providing assistance where possible. In all they spent 18 months in Tonga. They did not belong to any clubs or associations as they were too busy helping the less fortunate.

Prior to leaving Australia they had to give up their jobs as a chef and nurse, rent out their house, notify the Australian Electoral Office of their new address and advise the bank.

Whilst overseas Alyssa suddenly found out in May 2016 that she was expecting a baby. As Tonga was not an appropriate place to have a baby they came back to Australia on 14 May 2016.

When they returned to Australia they had to sell Alyssa’s 1,000 Telstra shares. She paid nothing for them as they were a gift from her mother and father. The market value at the date of the gift in February 2003 was $3.30. She sold them for $5.50 per share in June 2016.

Required:

Please advise Tasi and Alyssa if they are tax residents for all of the year ended 30 June 2015 and 30 June 2016.

Please also calculate the net capital gain incurred by Alyssa on the sale of the shares.

SophiaPretty

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Status NEW Posted 24 Jul 2017 07:07 AM My Price 6.00

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