Guide to income you must declare

Non-assessable non-exempt income

Non-assessable, non-exempt income is income on which you do not need to pay tax. It does not affect your tax losses, but some types of non-assessable, non-exempt income may affect your liability for the Medicare levy surcharge.

Some types of non-assessable non-exempt income are taken into account when calculating the adjusted taxable income (ATI) of your dependants.

For more information, refer to Tax return for individuals instructions Adjusted taxable income (ATI) for you and your dependants.

Generally, you cannot deduct expenses you have incurred in gaining your non-assessable, non-exempt income when calculating your taxable income.

For more common examples of non-assessable, non-exempt income, refer to Tax return for individuals instructions Amounts that you do not pay tax on.

Income you must declare - home

Sections within Amounts not included as income

• Exempt income
• Non-assessable non-exempt income
• Other amounts that aren't taxable