Michael is the owner of several successful bars and restaurants in central Melbourne. Recently, Michael was invited to make a guest appearance on a new hit television show about small business success stories. For his efforts, Michael received a one-off payment of $15,000. Michael feels he should be allowed to exclude this payment from his usual business income.

Required Do you agree with Michaels conclusion? Students must give reasons for their answer. This discussion must include an analysis of the pertinent sections of the relevant legislation, rulings, and the relevant case law. If relevant, students must show calculations.

NOTE: It references to Australian Taxation law, please provide the reasons with their supportive sections number as well. you must give calculations parts with what section it belongs ?