It is important to determine if there is a sufficient nexus between the receipt and the-income producing activity, in determining whether a receipt is income according to ordinary concepts.

What does this statement mean? Provide two examples where a nexus may exist (and may not exist) for the amount received by the tax payer.

Answer rating: 100% (QA)

ANS adequate Nexus means there ought to be a relationship between the 2 events occurring in any scen... View the full answer