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are any ordinary income Required: Discuss whether each of these receipts constitutes ordinary income (4 marks): Suits Pty Ltd is a company that owns a
are any ordinary income
Required: Discuss whether each of these receipts constitutes ordinary income (4 marks): Suits Pty Ltd is a company that owns a business that sells men's business suits in Melbourne to individuals. During the current tax year it also earned the following receipts: $50,000 for supplying business suits to a reality TV show called "The Office Professional'. The TV show used these suits to dress its male contestants, $10,000 paid by someone opening up a similar business in Sydney The amount was paid in exchange for the list of importers that Suits Pty Ltd purchases its inventory from Step by Step Solution
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