Riya is a resident of Australia. She is a student pursuing her Bachelor's degree in engineering at a university in Sydney. During this current tax year she received the following amounts: a) Salary of $25,000 for her part-time job as a contentlwriter on an online platform; b) A prize of $200 for being the best student in the degree; C) An honorarium for acting as event coordinator for the university's annual cultural festival; d) Winnings of $2,000 from playing the pokies machines; and e) Interest of $2,000 from her bank account.

Required: Advise Riya which of the above amounts would be assessable. 

Give reasons and refer to sections of legislation and cases, where relevant.

Answer rating: 100% (QA)

In Australia income is generally assessable for tax purposes unless it is specifically exempted Lets ... View the full answer