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.