Cash basis. 

Deferred basis. 

Mixed basis. 

Accruals basis. 

All of the above. 

Scott v Federal Commissioner of Taxation. 

Californian Oil Products v FCT. 

Heavy Minerals Pty Ltd v FCT. 

Revenue assets held for the purpose of manufacturing, exchanging, or selling in a business.

Fixed assets used in the production process.

Capital assets held for long-term investment.

Non-taxable assets.

Division 90. 

Division 70. 

Division 40. 

Division 30. 

Capital gains. 

Exempt income. 

Ordinary income. 

Non-assessable, non-exempt income. 

Ordinary income. 

Capital. 

Exempt from tax. 

Non-assessable, non-exempt income. 

Hybrid basis. 

Cash basis. 

Deferred basis. 

Accruals basis. 

Goods purchased for resale. 

Raw materials used in manufacturing. 

Finished goods held for sale. 

Machinery used in the production process. 

Ordinary income. 

Capital

Exempt income. 

Non-taxable. 

It is invoiced. 

It is received. 

It is earned. 

The service is performed.