【正文】
tion: The Cardwell Quoits Club was established in 1980 to promote quoits in the upper Herbert. Members pay an annual fee which was used to rent premises and finance the club’s activities. To allow ‘fellowship’ after practice or petition matches a refrigerator was bought and the club sold drinks and snack foods to members and guests. As quoits gained in popularity, membership increased, the club purchased new premises, installed a bar and (later) a restaurant – again for members and guests. The restaurant was also rented out for weddings and other functions. With its increased size the club also installed poker machines and added 10 motel units. The club now has a membership in the thousands and regularly serves a diverse range of visitors from all over Australia. What is its tax position? Should Be Received by the Taxpayer as Ine Two points: 1. The receipt must be an “ine receipt” in the hands of the taxpayer。 2. The taxpayer must “derive” it in terms of s 65 or s 610. Common Characteristics ? Periodicity。 ? Regularity。 and ? Recurrence. Ine Substitution and Compensation Payments 1. Ine substitution payments (key money instead of rent, signon fees instead of salary) are regarded as ine。 2. Compensation payments take the character of the receipt they replace (see FCT v Meeks). 3. Div 20A specifically makes certain “recoupments” assessable (ie as statutory ine). Question: Are the following receipts by an Australian resident taxpayer part of his or her assessable ine? a. lump sum damages for personal injuries suffered in a motor vehicle accident。 b. workers’ pensation payments for loss of ine。 c. an honorarium received by the secretary of a club。 d. tips received by a waitress。 e. $1 million prize in Gold Lotto. Question: What recoupments are made assessable under: a. s 2030(1)。 b. s 2030(2). Ine from Illegal Activities 1. Assessability of receipts. 2. Deductions for outgoings: a. Under the general law。 b. Under s 2654 and s 11038 – illegal activity outgoings。 c. Under s 265 – Fines and penalties。 d. Under s2652 and 2653 – Bribes.