Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Michael is advised by his employer, QZU Pty Limited, on 1 January 2019 that they will award him shares totalling $100,000 as at

 

2. Michael is advised by his employer, QZU Pty Limited, on 1 January 2019 that they will award him shares totalling $100,000 as at 1 January 2021 for his excellent contribution for no consideration. The shares will be awarded to him subject to the following conditions: Michael is required to meet sales targets each quarter between 1 January 2019 to 31 December 2020. Michael is not eligible to leave QZU until 1 January 2021 otherwise he will not be entitled to the shares. - QZU has the right to unconditionally reverse this share arrangement. (a) Advise when Michael is required to declare the shares received and what the assessable income balance is

Step by Step Solution

3.43 Rating (169 Votes )

There are 3 Steps involved in it

Step: 1

Michael is required to declare the shares received as assessable income when h... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Finance questions

Question

-x/2 x/4 If A = -x/2 and A-1 =6 then x equals

Answered: 1 week ago