Generally, average taxable professional income (ATPI) in an income year is one-quarter of the sum of the TPIs for the preceding four years. Special rules apply for working out the ATPI where your income averaging year 1 was less than four years ago. So, in the first four years, ATPI is worked out as follows:
|
nil |
|
one-third of TPl in year 1 |
|
one-quarter of TPI in years 1 and 2 |
|
one-quarter of TPl in years 1, 2 and 3 |
If you were not a resident at any time during the year immediately before your year 1, ring the ATO.