Ash, a non-resident individual for Australia for income tax purposes, derives $20,000 assessable income from services performed in Australia for the current income year. Ash spent $1,800 in advertising fees to promote these services. Ash also earns $50,000 from property sales overseas. Ash needed to spend $10,000 in order to make the sale. Calculate Ashs taxable income.

Select one:

a.

$18,200

b.

$58,200

c.

$0

d.

$20,000

The term income is often conceptualised by reference to both negative propositions and positive propositions. Which of the following statements is least correct?

Select one:

a.

Income is to be judged from the character it has in the hands of the recipient

b.

Amounts derived from property are income

c.

Amounts derived from carrying on a business are income

d.

Capital amounts have the character of income