Nirav has been unemployed for six months. He has been using the Jobs R Us Pty. Ltd. employment agency for the past four months to try to find employment. In March this year, a new case manager, Raj, was given the task of finding a job for Nirav. Within a week, Raj had found Nirav a full-time job. Nirav bought a $500 gold watch and gave it to Raj to say thank you.
Required: Advise Raj as to whether the watch is assessable income. Refer to case law and legislation in your answer.

Answer rating: 100% (QA)

Whether the 500 gold watch given to Raj by Nirav is considered assessable income depends on the spec... View the full answer