Orange is a computer retailer which is owned by Jane and Jimmy Dixon as a partnership. Orange sells computers and software. During 2017/18 tax year, its cash receipts were $1,200,000 and its trade debtor balances were as follows: Opening trade debtors $230,000 Closing trade debtors $320,000 In November 2017, Orange was awarded prize of a free trip to Hong Kong for being the highest distributor of Microsoft computers in NSW. The free trip was not transferable and was valued at $10,000. Jane and Jimmy made use of attending a computer fair in Hong Kong in December as the main purpose. On 13 May 2018, Jane received an Ipad valued at $500 from one of her customers upon the 10th anniversary of their business. The customer sent an accompanying note that wished her well in the future.

REQUIRED Advise Orange as to the tax consequences of the above transactions for the year 2017/18 tax year