Who is subject to income averaging?

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This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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You are subject to income averaging - a concessional tax treatment - if:

• you are an individual who is an Australian resident at any time during the income year, and
• you are a special professional, and
• you satisfy the first year requirements in either the current year or an earlier year.

The first year that special professional income averaging applies is the first year that the taxable professional income (TPI) earned as a resident special professional individual is more than $2,500.