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5. Insurance On 1 March 2020, trading stock in transit was stolen. A claim for insurance was finalised on 30 June 2020 and Zeta Pty

5. Insurance

On 1 March 2020, trading stock in transit was stolen. A claim for insurance was finalised on 30 June 2020 and Zeta Pty Ltd expects to receive $30,000 in respect of its insurance claim within two weeks. This amount has been taken up as a sundry debtor in the Statement of Financial Position.

is this insurance claim is a assessable income for the year under which legislation.

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