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TABL2751-Introduction to Tax Law - Term 3, 2025

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In FCT v Stone (2005) 222 CLR 289, the amount(s) received were:
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0%
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Jen has a taxable income of $92,000 for the 2024-25 income year. For the purposes of this example Jen’s repayment income (RI )is the same as the taxable income. Jen has a HELP debt of $27,500 on 30 June 2025.

Jen’s HELP repayment for 2024-25 is
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Sam, a resident individual for Australia for income tax purposes, has assessable income of $78,500 for the current income year. Sam has deductions of $2,000 and is supporting an elderly, invalid parent. The parent has $1,500 in income for the year from a cash dividend received during the tax year.

Calculate Sam’s taxable income.
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John is an Australian resident individual taxpayer is employed as an Engineer.  During the current income year, he receives the following:

  • Salary: $95,000
  • Superannuation: $9,500 (paid into nominated superannuation account)
  • Interest: $250 (Australian bank account)
  • Lottery winnings (from instant “scratchie”): $2,000

What is the assessable income of the taxpayer for the year?

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In Scott v FCT (1966) 117 CLR 514, the amount received was:
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Aussie Drink Sales Pty Ltd has an exclusive licence to distribute Monster Bull Inc soft drink products in Australia. Aussie Drink Sales Pty Ltd has four different divisions that distribute different types of products. The right to distribute Monster Bull Inc soft drinks produces 85% of the revenue of Aussie Drink Sales Pty Ltd’s soft drink distribution division but only 10% of Aussie Drink Sales Pty Ltd’s overall revenue. 

In February 2025, Monster Bull Inc is dissatisfied with the way in which Aussie Drink Sales Pty Ltd has been distributing its products in Australia and cancels the licence. As a result of the cancellation, Aussie Drink Sales Pty Ltd decides to close down its soft drink distribution division. Monster Bull Inc pays an amount of $1,250,000 to the administration division of Aussie Drink Sales Pty Ltd as compensation for closing down its soft drink distribution division. 

The most likely characterization of the $1,250,000 compensation payment to Aussie Drink Sales Pty Ltd would be: 

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In FCT v Cooke & Sherden, the holidays were:
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Which of the following will not be considered ordinary income?
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Under the first strand of reasoning in FCT v Myer Emporium (1987) 163 CLR 199:
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If an amount is ordinary income to a recipient, which of the following is the most correct:
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50%
50%
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