Which one of the following statements is incorrect? A taxpayer who is not a resident under the
Question:
Which one of the following statements is incorrect? A taxpayer who is not a resident under the resides test and who has an Australian domicile and a permanent place of abode outside Australia is not a resident of Australia under the domicile test O Mutual receipts are not assessable income Oc From the decision in Kelly v FCT 1985) it is clear that prizemoney derived by a taxpayer and which is directly related to their employment can be assessable income even where it is received by a third party who is not their employer. Od Section 28-5 ITAA97 ensures that there is no deductions available for speeding fines. On A principle from the case of Payne v FCT is that the value of frequent flyer points derived from employment related travel is assessable as income
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain