Question
Advise whether the following receipts are assessable or not assessable and explain why 11) Proceeds of term deposit of $5,200 (includes principal of $5,000) 12)
Advise whether the following receipts are assessable or not assessable and explain why
11) Proceeds of term deposit of $5,200 (includes principal of $5,000)
12) Lottery win of $45,000 Received lump sum of $50,000 due to loss of leg as a result of work accident
13) Prize of $200 won in a magazine competition
14) Birthday gift of $200 from uncle
15) Gross interest on saving account held jointly with spouse $1,000
16) Christmas bonus of $800 received from Employer
17) Fully franked dividend of $7,000 received from Westpac Bank
18) Received $2,400 from sickness and accident policy
19) Employer paid $1,000 in superannuation guarantee payments to the taxpayers nominated superannuation fund
20) Workers compensation received by the taxpayer for lost wages
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