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Question 18 Que In relation to compensation payments, which of the...

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Accounting

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Question 18 Que In relation to compensation payments, which of the following statements is most correct? 1p O A compensation payment cannot be dissected into different components. o Where a taxpayer accepts a lesser amount of compensation for several un-liquidated claims the courts are happy to dissect the compensation payment into its different component Where a compensation payment includes an income and capital amount the whole amount will be considered to be income O A right to claim compensation may constitute a capital gains tax asset Where a compensation payment includes identifiable income and capital amounts the whole amount will be considered to be exempt income

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