ACTP312 Tutorial Assignment 3 Week 7
Anne was born in New Zealand and lived in New Zealand until soon after she completed her
university studies. She completed her Bachelor of Commerce degree at the University of
Otago in November 2011. She packed up her
ACTP312 Lecture 2 II
Capital v Income
Tree on the land versus the fruit of the tree
Amounts received annually or periodically are often income rather than capital
Interest Rent Dividends Wages
However, fact that receives a lump sum is not conclusive as
ACTP312 Lecture 2
What is income?
Income is a receipt - something that comes in Income is something that is money or moneys
Income is something that is income under Part C of the Income Tax Act 2007
What is not income?
Income is not what is s