His late father lived in New Zealand and the $120,000 that he received was kept in a New Zealand bank account.

• The ATO increased his assessable income by including a lump sum of $130,000 being an inheritance from his late father

The interest was paid into his NZ bank account and as he did not physically receive the interest in Australia, he ignored it.

• The ATO increased his assessable income by including the interest of $1,200 (AUD equivalent) paid to Joshua on the lump sum

Was the adjustments to his income are assessable income are correct - 500 words (including relevant legislations, rulings and case study)