Assessable professional income

Warning:

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

End of attention

Assessable professional income is used in calculating your TPI. It is income arising directly from the activities of a special professional and includes:

• rewards and prizes
• income from endorsements, advertisements, interviews, commentating and any similar service
• royalties income from a copyright in a literary, dramatic, musical or artistic work, or
• income from a patent for an invention.

The following are specifically excluded from assessable professional income:

• eligible termination payments
• annual or long service leave payments on retirement or termination, and
• assessable capital gains.