gifts as taxable income

gifts as taxable income
Does incentive payment from Raboplus taxable ?

I opened an online savings account with Raboplus last financial year. Raboplus gave me A$50 as incentive payment (for opening a new account).

I would like to know whether the incentive payment is taxable (as income) or non-taxable (as a gift) ?

Thanks

It is income.

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This entry was written by admin, posted on September 6, 2009 at 6:31 pm, filed under Uncategorized and tagged taxes. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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