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Deleted member 29185
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I see your perspective Swan, with the ambiguity of the definition. However your accountant can put your mind at ease - a good one should be worth every dollar in peace of mind eh?
As I said previously, my accountant has never mentioned loyalty points and I must admit, I hadn't really thought about it, but that tax ruling you mentioned above makes me think they are likely to be classed as income for many of us. As much as good accountants are worth their money, I still seem to recall a clause that states along the lines of "all care and no responsibility". If the tax dept does come calling at some future date, the accountant is unlikely to be saying "hold up, it's my fault, I'll pay the fine". I think Mogul may have been correct insofar as it's in the too hard basket and letting sleeping dogs lie may be prudent! Trouble is with the Tax Dept, like many sleeping dogs, they can still bite when awoken! Coincidentally, I'm hopefully seeing my accountant this week, so I'll surreptitiously ask the question.....