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Question: lien is a sole trader and provides marketing services to...

Question details

Lien is a sole trader and provides marketing services to pharmaceutical

firms in Sydney. In the year 2018-19, Pharma & Pharma (P&P), a

pharmaceutical firm, paid Lien an amount of $55,000 for her services. P&P

has a tradition of awarding each year the best performer who contributes

significantly to raising its turnover. In 2018-19, P&P awarded Lien with a

non-transferrable free trip to London to watch the Wimbledon final. Citing

legislation and cases, advise Lien of the income tax consequences of the

payment and reward.

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