Taxation Law In Australia Case Study

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Taxation Law in Australia Case 1: Hilary is a famous mountain climber, this is the reason why the Daily Terror Newspaper gain the interest to offer her $10,000 dollars to write her life story, but if she prefer to write in on her own without any help from a writer, she gains all the copyrights to claim the $10,000 dollars coming from the Daily Terror when the story is published. She also decided to sell the manuscript to the Mitchell Library for $5000 dollars and later she also receives $2000 dollars for selling several mountains climbing photographs. Based on the decision of Hilary to write the manuscript by herself, even if this is the first she has written a manuscript and based on the process of selling it to the Mitchell Library and receiving …show more content…

It is only that her son promises to pay for five years with the amount of $50,000 dollars. However, the son paid his mother for only two years with an added 5% of the borrowed money and with only a single cheque presented is a clear indication that the quality of expenditure and credit is not a recurring income, nor intended for profit making on the part of the parent. The mother even told her son that no interest is required. In the case of Brent v FC of T 71 ATC 4195, is also based on the rewards received based on the services provided, therefore it is an income from personal exertion. Just like the case of Hilary, when the wife of the great train robber, allows a media company the rights to publish her story, and she allows them for an interview. She was promised to receive $65,250, but during 1970, she only received $10,000, the High Court of Australia only charged her with the same amount she received as the assessable income (CCH New Zealand Ltd.,

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