Shawrya Singh moved from India to Australia on 1 December 201W on a permanent residency visa to work for an Australian auditing firm. He is also a shareholder in a number of Australian companies, none of which is a base rate entity.
During the 201W/1X year he received the following distributions:
01/10/201W
70% franked distribution from CSL
$2,000
01/03/201X
60% franked distribution from BHP
$4,000
13/04/201X
Fully franked distribution from NAB
$3,200
15/06/201X
Unfranked distribution from ANZ
$4,500
Shawrya also received a salary of $57,000 paid by his Australian employer in the 201X/1W year.
Required
Assuming Shawrya does not have any allowable deductions in the current year, calculate his taxable income and tax liability for the year ending 30 June 201X, stating relevant legislation to support your answer.
