Law 505

3 R 96 101 110 120 13 14 15 163 17 18 206 21 22 23 24 25 26 28 29 30 Question 23 1 points SAVE ANSWER Oscar severely injured his spine in a motorcycle accident which resulted in him becoming a paraplegic. As a result he consulted a lawyer and was successful in obtaining a compensation payout of $500,000 from his insurance company. In addition to the lump sum payment, Oscar received pre- judgment interest of $60,000. The insurance company appealed the decision in a higher court, however the original decision was confirmed and a further $20,000 of interest was awarded by the court. The insurance company therefore paid Oscar an amount of $580,000 immediately following the final decision. What amount should Oscar include in his assessable income as a result of these receipts? $500,000 $80,000 $560,000 $580,000 O Nil Activate Windows Go to Settings to activate Window Show LAW505 202060...docx LAW505 202060....docx