Semester 2, 2020 BULAW5916 Taxation Law and Practice 5.4 Ed is a foreign resident (non-resident) of Australia who works as a geologist for a large oil exploration company. During the current year he was located in the United States surveying potential oil deposits in the Gulf of Mexico. He was paid $75,000 for this work. In addition, Ed earned $15000 in rental income duing the year from an investment property he owns in Brisbane. d has 24,000 shares in Telecom France and he received $3,000 in dividends from the French company during the year. Telecom France has no income-earning operations in Australia. What is the total amount of income earned by Ed that has an Australian source for the current year of income? A $93,000 B.$18,000 c$78,000 D. $15,000 Click or tap here to enter text. 5.5 Which of the following statements gives the MOST correct definition of a repair for the purposes of s 25-10 of the Income Tax Assessment Act 1997? A. To be a repair the item must be brought back to an identical condition to what it was originally. B Where an item is in perfectly good order and it is replaced this will be a repair c. Repair involves the restoration or replacement of subsidiary parts of an item. D. Regular cleaning of an office building would be considered to be a repair. Click or tap here to enter text. 5.6 During the income year ended 30 June 2019 Nicholas received salary and wages income of $35,000, interest income of $3,000, a net capital gain of $5,000, an exempt compensation payment of $23,000 and commission income of $4,000 What is Nicholas's ordinary income that is assessable for the year ended 30 June 2019? A. $42,000 B. $47,000 c $38,000 D. $35,000