The gains in value from which of the following are LEAST likely to be assessable income in Australia based on the lecture material:Question 8AnswerHaoyu bought some stocks for $10,000 and sold them later for $15,000.Zihan bought a one bedroom apartment for $500,000 and sold it 5 years later for $600,000. She rented it out as an investment property for the entire period.John bought a one bedroom apartment for $500,000 and sold it 5 years later for $600,000. He lived in it for the entire period as his main residence.Sarah bought Bitcoin for $10,000 and sold it later for $15,000.

Determine whether the following receipts are likely to be ordinary income. (a) Weekly salary received by an employee.(b) Fortnightly age pension received by a retiree from the Australian government.(c) Compensation received by an injured worker for loss of salary because they were unable to work for four weeks.(d) A Christmas present of $150 received by a daughter from her mother.(e) Interest of $2,000 from a bank term deposit.(f) Weekly rent payment received by a landlord from their rental property tenant.(g) Lotto winnings of $1million.(h) A cash bonus of $1,000 received by an employee from their employer.(i) A watch worth $250 received from by a business owner from a satisfied client.

Sidney Aus is 64 years old and married with 2 children. She is fully employed and earned a salary of R1 690 000 for the current year of assessment. She also made contributions to a medical aid fund of R25 000 and her employer also contributed a further R65 000. In addition to the above she received the following income:Local dividends of R10 000,Interest received from a South African investment of R19 000.YOU ARE REQUIRED to determine the total amount which will be included in Sidney's Gross income for the current year of assessment.Select one:a.R1 780 000b.R1 784 000c.R1 690 000d.R1 755 000

John is an Australian resident individual taxpayer is employed as an Engineer. During the current income year, they receive the following:Salary: $102,000Superannuation: $10,200 (paid into nominated superannuation account)Interest: $250 (Australian bank account)Lottery winnings (from instant “scratchie”): $2,000What is the assessable income of the taxpayer for the year?Question 9Answera.$112,450b.$104,250c.$112,200d.$102,250e.$114,450

If the Reserve Bank of Australia buy bonds and securities in the open market, this is likely to lead toQuestion 5Select one:a.depreciation of the Australian dollarb.net capital inflows in the countryc.decrease in investment spending by firmsd.none of the answers is correct

Contreras acquired his primary residence after 1 October 2001 for R900 000. During the current year of assessment, he sold it for R2 900 000. He used his primary residence 20% for trade purposes and claimed 15% of cost for income tax purposes. Which of the following statement is incorrect regarding the declaration of the sale of his primary residence in the income tax return?a.The capital gain attributable to the sale of the primary residence is R1600 000b.The capital gain attributable to trade is R400 000.c.The capital gain attributable to trade can be reduced by the annual exclusion of R40 000 available to natural persons.d.The primary residence exclusion that can be claimed R2 000 000.