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When George is hired as a hairdresser, one of the terms of his employment is that, if he resigns or is sacked, he will not compete with the hairdressing salon for a period of five years and within a radius of five kilometers. In return for agreeing to the restriction, George is paid a lump sum of $15,000.Is George assessable on this amount? Would it […]

When George is hired as a hairdresser, one of the terms of his employment is that, if he resigns or is sacked, he will not compete with the hairdressing salon for a period of five years and within a radius of five kilometers. In return for agreeing to the restriction, George is paid a lump sum of $15,000.Is George assessable on this amount? Would it […]

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