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Royalty Income Some years ago, Lindsey wrote a book entitled Understanding your Legal Rights, which retails for sale at most good Brisbane book retailers for
Royalty Income
Some years ago, Lindsey wrote a book entitled Understanding your Legal Rights", which retails for sale at most good Brisbane book retailers for $29.95. For each book sold, Lindsey receives a royalty of $10 from the book publisher.
On 21 June 2021, Lindsey receives a cheque for $2,560 from the book publisher, representing royalty income in respect of the sale of 256 books during the 2021 income year.
what is the assessable income?
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