Explain (citing sections where appropriate) whether the following receipts are specifically exempt from income tax?
i. An aviation society carried on for the profit of its members receives $50,000.
ii. A receipt of $5,00 by the taxpayer for a Commonwealth Trade Learning Scholarship.
iii. A family assistance payment being a ‘single income family supplement’ paid to a household in Melbourne.
iv. The Prime Ministers Prize for Science awarded to a student.