Explain (citing sections where appropriate) whether the following

receipts are specifically exempt from income tax? (1 mark each):

• A scholarship received by a full-time university student, paid by a major company listed on the stock exchange, on the condition that upon her graduation, the student work for the company for at least one year.

• Membership premiums received by a not-for profit/gain private health insurance provider.

• A superannuation benefit paid to an Australian retiree from a superannuation fund that has always been a non-complying, non-foreign Australian superannuation fund.

• A benefit received by an employee from their employer that is regarded as a fringe benefit.