Which of the following statements is most correct? Superannuation contributions by an employer on behalf of an
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Question:
Which of the following statements is most correct?
- Superannuation contributions by an employer on behalf of an employee to a superannuation fund are included in the assessable income of the employee.
- Benefits received under a frequent flyer program by an employee will always be income of the employee calculated the market value of the frequent flyer points.
- Where an amount is both ordinary income under s 6-5 ITAA97 and statutory income under s 15-2 ITAA97 it will be considered to be statutory income for assessment purposes.
- Section 15-2 ITAA applies only to constructive receipts.
- For an amount to be included in the assessable income of an employee there be a sufficient nexus between the receipt of the amount and their employment.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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