If an amount is ordinary income to a recipient: - It will never be foreign...
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Accounting
If an amount is ordinary income to a recipient:
- It will never be foreign source income;
- It may also be included in the recipient's assessable income via a statutory income provision but the rules about ordinary income will prevail.
- It may also be included in the recipient's assessable income via a statutory income provision.
- If it is also included in the recipient's assessable income via a statutory income provision then usually the statutory income provision will prevail.
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