Which of the following income receipts would be not be assessable income?

a. Wages paid to an Australian resident working for an international hotel in London for six months.

b. An Army Reserve payment to a person serving on a part-time basis.

c. An insurance recovery for retail stock destroyed by fire.

d. An invalidity service pension to a former member of the Air Force, aged 67.

e. Wages of a doctor employed at a public hospital.

In relation to the concept of income which of the following statements is most correct?

a. Income is defined in the ITAA97.

b. Capital gains made by tax-exempt entities are included in assessable income.

c. A fringe benefit provided to an employee is considered to be non-assessable non-exempt income.

d. Goods and services tax is considered to be exempt income.

e. Exempt income is ignored for the purposes of the ITAA97.