Question
Which of the following amounts is most likely to be classified as ordinary income and assessed under s6-5 of the ITAA1997? An insurance payment to
Which of the following amounts is most likely to be classified as ordinary income and assessed under s6-5 of the ITAA1997?
An insurance payment to compensate a business for a fire damaged income producing building. | ||
Interest received on a private loan made by a parent to their adult child to provide them with a deposit for their first home. | ||
Proceeds from the sale of the goodwill of a business operated by the taxpayer for several years. | ||
Profits from the sale of shares by a taxpayer who is a fulltime employee. | ||
A weekly divorce settlement maintenance payment received by a taxpayer from their ex-partner. |
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