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Which one of the following would NOT be regarded as income according to ordinary concepts? a. Darren often receives frequent flyer points as he is
Which one of the following would NOT be regarded as income according to ordinary concepts? a. Darren often receives frequent flyer points as he is required to travel frequently to visit clients. Darren receives 100,000 points for his travels this year and redeems all of these points for a return air ticket to New York where he goes for a three-week holiday. The normal price of the air ticket is $2,500. b. Geoff works as a motor mechanic. It has been recently discovered that his employer has been accidentally underpaying Geoff for the past 12 weeks. Geoff receives a lump sum payment of $20,000 for the amount of back pay for the 12 weeks. C. Shane is a drug dealer. Shane receives $100,000 from the sale of illegal drugs during the income year. d. The Frank Sinatra Appreciation Society is a nonprofit club set up for music lovers of the great Frank Sinatra. The club sells a range of Frank Sinatra merchandise to both members and non-members. During the income year, the club receives $25,000 from the sale of various merchandise to non-members
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