Rocky Mountains was born in Canada. In the early 1980s he moved to Australia with his wife for emplo

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Rocky Mountains was born in Canada. In the early 1980s he moved to Australia with his wife for employment reasons. Since moving here he and his wife have purchased a family home, opened Australian bank accounts and gained full-time employment in Australia. Rocky also purchased a rental property in Sydney. In the early 2000s they became Australian citizens for immigration purposes and were issued with Australian passports.Rocky and his wife have also maintained their Canadian citizenship, a modest Canadian bank account and Canadian life insurance. In July of this current tax year, Rocky obtained a job with an Australian multi-national firm, Roo Trucking, which requires him to travel and work in Kuwait for extended periods of time. The salary he earns in Kuwait is exempt from Kuwaiti tax.For this current tax year, Rocky spent a total of 257 days living in Kuwait. As he is there so extensively, he maintains a small one-bedroom unit in Kuwait, and has obtained a residency visa for Kuwait. When Rocky is not in Kuwait, he rents out the unit for short periods to other expatriates. At the end of each work assignment, Rocky flies back to Australia to be with his wife at their home in Brisbane and to socialize with friends.Assume Rocky is a resident for Australian taxation purposes for the current income tax. Which of the following statements is true for the current income tax year?Rocky is not taxable on the interest he receives from his Australian bank account.Rocky is not taxable in Australia on the rent he receives for renting out his Kuwait unit.Rocky is taxable in Australia on the rent he receives from his Sydney rental property.Rocky s salary income in Kuwait is exempt income for Australian taxation purposes as it is sourced overseas.

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