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What amount will daniel include in his assessable income

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Daniel is an accountant and on 4 June 2016 he received compensation of $25,000 for wrongful dismissal from his former employer, Jones Ltd. The compensation was to reimburse Daniel for lost wages as a result of the dismissal. On 10 June 2016, Daniel received $5,000 for agreeing to enter into a three-year contract to work with Brown Ltd and he started working for Brown on 25 June 2016. While he was between jobs, he did some part-time work for a labour hire firm and he received $900 in cash. The labour hire firm deducted PAYG withholding of $300 from his gross earnings of $1,200. Based on the above transactions, what amount will Daniel include in his assessable income for the year ended 30 June 2016?

$25,000

$30,000

$30,900

$31,200

$5,000

Reference no: EM131779475

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