BLAW30002 Lecture Notes - Lecture 5: Ordinary Income, Lifesaving, Sherden

• School: University of Melbourne
• Department: Business Law
• Course: BLAW30002
• Professor: Sunita Jogarajan

Document Summary

Which of the following would constitute ordinary income? (disregard any potential application of fbt (topic 6)) (cid:894)a(cid:895) chloe is clark(cid:859)s assista(cid:374)t. clark gi(cid:448)es chloe at christ(cid:373)as to sa(cid:455) tha(cid:374)k (cid:455)ou for all her hard work. is money, it can be considered ordinary income like in tennant and cooke. Therefore, the can be considered ordinary income. However, depending on the factors, the payment can either be considered a gift or income. Since the was one-off and the chloe was already adequately renumerated for her services in terms of salary, just as the decision in scott and brown, it is likely considered a gift. The benefit is not a common incident of chloe"s occupation which is an assistant so also likely considered a gift. The benefit was also available only to chloe and not a particular class of taxpayers, thus referring to. Laidley and smith, the is likely not considered income.