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Essay text:
Whether Andrew’s income of $ 50 from assessing family & friends tax returns is assessable as taxable income under the income tax act?
2. Whether Andrew’s income of $ 1,000,000 derived from illegal channels (stealing from W.E.T’s overseas clients) is considered as income and assessable under the income tax act?
3. Whether Andrew is liable to pay tax on the general bonus amounting to $ 5000 received in July 2006, also on the personal bonus of $ 3000 received in December 2006, which other employees were not entitled to.
4. The next issue is whether the raise in Andrew’s annual income amounting to $ 7500 (pay rise effective from 1st January 2007) resulting from a promotion is considered as assessable income under the taxable income’s act?
5...
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