Tax Residency Concept In The Australian Taxation System

Determination of Tax Residency StatusThe Taxation system of Australia is governed by the Income Tax Assessment Act 1997, which prescribes all the rules, regulations for assessing the income of the individual. Tax residency is an important aspect with respect to the assessment of the income tax of the individual (Lombard, 2017). The determination of the tax residency status depends on the circumstances of the individual.  The present study…