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Royalty Income Cris sold his book to Brisbane book retailers for $19. For each book sold, Chris receives a royalty of $5 from the book publisher.

Royalty Income

 

Cris sold his book to Brisbane book retailers for $19.95. For each book sold, Chris receives a royalty of $5 from the book publisher.

 

On 26 June 2017, Chris receives a cheque for $1,240 from the book publisher, representing royalty income in respect of the sale of 248 books during the 2017 income year.


calculate his tax return

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