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Sam Pantevic Revenue Law Case Study Assessment Answer
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Sam Pantevic Revenue Law Case Study Assessment Answer
TASK: Sam Pantevic is a 20-year-old soccer player. He accepted a contract to play in Inter Milan in Italy, commencing on 1 July 2018. Sam’s manager lives in Milan and Sam arranges to stay with him and his family for the first year of his contract while he works out other arrangements. After 3 months, Sam moved into an apartment in Milan which he rented from a friend. He banks payments under his contract into a bank account which he opened in Italy. Sam knows that his future in soccer in reliant upon him remaining fit and well and that it is important that he builds an asset base for his future. He purchaser a two bedroom unit in Clovelly (a Sydney beachside suburb) with the first payment under his contract. This is rented out. He also had a car which he has given to his sister to drive while he is away. He is unmarried and his family remains in Australia. He doesn’t know how long he will be away but hopes to extend his contract. Unfortunately, Sam snapped his Achilles tendon on 30 December 2018 and his playing career is over. He returns to live in Sydney on 1 May 2019.- Is Sam an Australian resident for the income tax years ending 30 June 2018 and 30 June 2019? Give reasons.
- Advise Sam whether the income he receives will be assessable in Australia during these tax years.
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