Royalty Income Some years ago, Lindsey wrote a book entitled “Understanding your Legal Rights", which retails for sale a

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answerhappygod
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Royalty Income Some years ago, Lindsey wrote a book entitled “Understanding your Legal Rights", which retails for sale a

Post by answerhappygod »

Royalty
Income
Some years ago, Lindsey wrote a book
entitled “Understanding your Legal Rights", which retails for sale
at most good Brisbane book retailers for $29.95. For each book
sold, Lindsey receives a royalty of $10 from the book
publisher.
On 21 June 2021, Lindsey receives a
cheque for $2,560 from the book publisher, representing royalty
income in respect of the sale of 256 books during the 2021 income
year.
what is the assessable income?
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