Lucy is the Finance Director for Capital Products Pty Ltd. Lucy was previously located at the head office in Adelaide but is currently working from the Canadian office, having relocated there on 1 August 2020. Capital
Lucy is the Finance Director for Capital Products Pty Ltd. Lucy was previously located at the head office in Adelaide but is currently working from the Canadian office, having relocated there on 1 August 2020. Capital Products anticipate that Lucy will head up the Canadian office for one year with an option to stay for another one year. Paula’s contract with Capital Products entitles her to a salary of $600,000 for 2020/21. This is paid at the rate of $50,000 per month.
Lucy sells her shares in Australian companies before she leaves Australia and makes a
Question
Discuss Lucy’s status (resident or not) for Australian tax purposes for 2020/21 and the tax implications of the transfer to Canada.
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