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  • Assessable professional income

    Attention

    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 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 27986