REQUIRED TO USE CASE LAW AND LEGISLATION (AUSTRALIAN LAE PLEASE)

Client Number 2

Bill has just won a $1million Tatslotto prize. Bill has been buying a ticket weekly for many years and has never won before.

Required: Write a report to the practice manager detailing how the Tax Office would treat this winning. Refer to applicable taxation cases and rulings in your answer.

WILL LIKE AND COMMENT FOR GENUINE ANSWERS..

THANK YOU ALREADY FOR THE HELP