Question
The following were received by the relevant person or body during the financial year ended 30 June 2019 . Indicate whether the item is assessable
The following were received by the relevant person or body during the financial year ended 30 June 2019. Indicate whether the item is assessable income, exempt income or not income under the Act. Quote the section number for all assessable and exempt amounts.
Receipt | Identify the receipt as Assessable income/Exempt income or a non-income receipt | Relevant Section |
Example: Army Reserve wages | Exempt income | S51.5 |
Insurance receipt $35,000 for stock lost in a fire |
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A $5,000 prize to a teacher for the best performance
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Reimbursement by an employee of $150 in car expenses |
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$15 million income earned by a charitable institute
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Age pension of $4,000 (no supplementary amounts received)
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