Who is subject to income averaging?
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 eligible for special professional income averaging (a concessional tax treatment) if:
- you are an individual who is an Australian resident at any time during the income year
- you are a special professional, and
- you satisfy the first year requirements (see below) in either the current income year or an earlier income year.
The first year you are eligible for special professional income averaging is the first income year for which the taxable professional income (TPI) you earned as a resident special professional individual is more than $2,500. This is known as year 1.
Last modified: 29 May 2015QC 44178