Question 6 (4 points) Required: Discuss whether each of these receipts constitutes ordinary income (4 marks): Suits Pty

[answerhappygod]

Question 6 4 Points Required Discuss Whether Each Of These Receipts Constitutes Ordinary Income 4 Marks Suits Pty 1 (28.74 KiB) Viewed 15 times

Question 6 (4 points) Required: Discuss whether each of these receipts constitutes ordinary income (4 marks): Suits Pty Ltd is a company that owns a business that sells men's business suits in Melbourne to individuals. During the current tax year it also earned the following receipts: • $50,000 for supplying business suits to a reality TV show called 'The Office Professional'. The TV show used these suits to dress its male contestants. • $10,000 paid by someone opening up a similar business in Sydney, The amount was paid in exchange for the list of importers that Suits Pty Ltd purchases its inventory from.