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3 Nico Kidman is a famous Australian actor who regularly appears in movies and on television. During the 2021-22 income year Nico has the following

image text in transcribed 3 Nico Kidman is a famous Australian actor who regularly appears in movies and on television. During the 2021-22 income year Nico has the following receipts You are required to: Select one answer from the possible tax treatments, which is the single, comect or nearest correct tax treatment for each receipt. There are thore altamative tax treatments than receipts to select from You can select any tax treatment multiple times A cash lumpsum of $100,000 in compensation from a film production company because a movie Nico stared in was never released to audiences in Australia Nico's contract with the fim production company stipulates that he would receive $10 every time the film plays in a cinema in Australia A cash lumpsum of $3 million on 1 December 2021, to agree to star in a new television show that will be fimed on the Gold Coast from 1 February 2022. His co-stars received sim Prize money totaling $50,000 when he won the Best Actor award from the Australian Professional Actors Guild A 1966 vintage Ford Shelby Mustang car valued at $130,000. Nico received the car as a gin from a very good end of his Pete Townsend Pete recently opened a vintage car dealership on the Gold Coast. Nico introduced his celebrity friends to Peta. Many of Nico's friends attended the grand opening of Pete's business and they were also Pete's first customers. The grand opening was so successful that Pete sold nearly all of his trading stock to Nico's Sends A Not ordinary income due to the precedent in Dixon v FCT Compensation for lost income from business, assessable income, 6-5 AA97 using the precedent in Dixon v FCT C. Ordinary income, 6-57AA97, Brent v FCT DOrdinary income, 6-5 TAA97. SFCT E Not ordinary income because the receipt is capital in nature Ordinary income, s6-5 (TAA97, Kelly v FCT Ordinary income, a 6-5 TAA97, Pickford v FCT H. Ordinary incons, 6-5 TAA97, Brown v FCT

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