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  • Assessable professional income



    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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    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 from a copyright in a literary, dramatic, musical or artistic work, and
    • income from a patent for an invention.

    The following are specifically excluded from assessable professional income:

    • a superannuation lump sum or an employment termination payment
    • payments for unused annual or long service leave on retirement or termination, and
    • a net capital gain.
    Last modified: 07 Mar 2016QC 27954