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Edited version of your written advice
Authorisation Number: 1051458587060
Date of advice: 22 November 2018
Ruling
Subject: Residency
Question
Are you a resident of Australia for income tax purposes?
Answer
No
Having considered your circumstances as a whole and the residency tests, it is accepted that you are not a resident of Australia for income tax purposes. Further information on residency can be found by searching 'QC 33232' on ato.gov.au
This ruling applies for the following periods:
Year ending 30 June 20XX
Year ending 30 June 20XX
Year ending 30 June 20XX
Year ending 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
Your country of origin is Country X.
Prior to 20XX you travelled to Australia on a tourist visa for short periods of time.
You arrived in Australia on XX January 20XX on a subclass 188 Business innovation and Investment (Provisional) visa - Significant investor stream.
As part of this visa requirement you were required to invest AUD5 million in complying significant investments in Australia, it allowed you to stay in Australia for up to 4 years and 3 months and you must first be nominated by an Australian state or territory government.
As part of this requirement you invested money in State Bonds.
This visa expired on 7 July 20XX and you are currently on a bridging visa.
You have applied for a Business Innovation Stream 888 Visa, this visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) continue business activities in Australia indefinitely.
You were in Australia for XX days in the 20XX financial year, XX days in the 20XX financial year, XX days in the 20XX financial year, XX days in the 20XX financial year and XXX days in the 20XX financial year.
You received interest income during the financial years in question, after 10% non-resident withholding tax was deducted from your investment income.
You earned no other income in Australia.
You do not own property in Australia.
You stay with family when visiting Australia.
Your main residence and other assets are in Country X.
Your employment is in Country X.
You do not have an Australian driver’s licence or private health insurance.
Your friends and relatives and other social activities are in Country X.
It is not your intention to live permanently in Australia for the foreseeable future.
You are not a member of the PSS or CSS Superannuation funds.
Relevant legislative provisions
Income Tax Assessment Act 1997 Subsection 995-1(1)
Income Tax Assessment Act 1936 Subsection 6(1)