myTax 2019 Other income

Complete this section if you have any other income that you have not been able to show anywhere on your tax return.

On this page:

• Essentials
• Do not show at this section
• Completing this section
• Other income types

Essentials

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

Any other income includes:

• An amount released by a superannuation funds greater than the liability stated on the release authority
• income you earned from the sharing economy or other marketplaces except income which is derived from carrying on a business (show these at Business income or losses) or as an employee (show these at Salary, wages, allowances, tips, bonuses etc)
• jury attendance fees
• foreign exchange gains
• royalties
• bonus amounts distributed from friendly society income bonds
• taxable scholarships, bursaries, grants or other educational awards
• benefits or prizes from investment-related lotteries and some game-show winnings
• income from activities as a special professional (author of a literary, dramatic, musical or artistic work, inventor, performing artist, production associate or active sportsperson)
  • amounts you have already included elsewhere, may also have to be shown here as you may be entitled to a concessional rate of tax if you have certain amounts of professional income; you will not be taxed twice on these amounts
• reimbursements of tax-related expenses (not including ATO interest remitted) or election expenses which you have claimed as a deduction
• ATO interest remitted
• any assessable balancing adjustment when you stop holding a depreciating asset (for example, because of its disposal, loss or destruction) for which you have claimed a deduction for depreciation or decline in value in previous years; your car is a depreciating asset
• payments made to you under an income protection, sickness or accident insurance policy where the premiums were deductible and the payments replaced income; do not include payments you've already shown at Salary, wages, allowances, tips, bonuses etc in the Income statements and payment summaries section
• interest from infrastructure borrowings if you intend to claim a tax offset at Other non-refundable tax offsets
• gains derived on disposal or redemption of traditional securities that are assessable under section 26BB of the Income Tax Assessment Act 1936
• allowances or payments you received as a member of a local government council that you have not shown at Salary, wages, allowances, tips, bonuses etc in the Income statements an payment summaries sectionwork-in-progress amounts assessable under section 15-50 of the Income Tax Assessment Act 1997 that you received and have not included at Business income or losses.

For more information, see Other income types.

Depreciation and capital expenses

You generally can't deduct spending on capital assets immediately; instead you claim the cost over time, reflecting the asset's depreciation (or decline in value). For more information, see Guide to depreciating assets.

You can use the Depreciation and capital allowances tool to work out any decline in value deduction as well as any deductible balancing adjustment when you stop holding a depreciating asset.

The tool can be accessed in the Deductions section on the Prepare return screen.

Do not show at this section

You might have received amounts that you do not need to include as income in your tax return. For more information, see Amounts that you do not pay tax on.

Do not show the following amounts at this section:

• Lump sum payments in arrears. Show these at:  
  • Salary, wages, allowances, tips, bonuses etc, or Foreign employment income (on an income statement/payment summary) in the Income statements and payment summaries section, or
  • Foreign pensions and annuities or Foreign employment income (not on an income statement/payment summary) in the Foreign income, assets and entities section.
• An assessable First home super saver (FHSS) released amount. Show this at:
  • First home super saver (FHSS) scheme in the Income statement and payment summaries section.
• Other taxable allowances or payments you received from Services Australia. Show these at Australian Government special payments in the Income statement and payment summaries section. Other taxable allowances or payments include:
  • activity supplement, farm financial assessment supplement or the farm household allowance supplement that are paid under the farm household allowance program
  • Business Services Wage Assessment Tool (BSWAT) lump sum payment in arrears
  • Australian Government emergency payments.
• Foreign exchange losses. Show these at Other foreign income in the Foreign income, assets and entities section.
• Rental income or losses. Show these in the Rent section.
• Business income or losses. Show these at Business income or losses in the Business/sole trader, partnership and trust income (including loss details) section.
• Partnership income or losses. Show these at Partnerships in the Business/sole trader, partnership and trust income (including loss details) section.
• Capital gains or capital losses. Show these in the Capital gains or losses section.
• Discounts on shares, stapled securities (provided at least one of the stapled interests is a share in a company) or rights to acquire shares or such stapled securities, acquired under an employee share scheme. Show these at Employee share schemes in the Other income section.
• Income earned through sharing economy or other marketplace activities where you were carrying on a business, including income from ride-sourcing; show this amount at Business income or losses in the Business/sole trader, partnership and trust income (including loss details) section.
• Rental income or losses, such as income from renting all or part of your home; show this amount in the Rent section.
• Employee salary or wages; show this amount at Salary, wages, allowances, tips, bonuses etc in the Income statement and payment summaries section.

If you can't see these sections, use the Personalise return screen to select those sections that apply to you. For further help with personalising your return, see How to personalise your return.

Completing this section

We pre-fill your tax return with ATO interest remitted by us. Check for other income amounts you received not pre-filled and ensure you add them.

1. For each type of other income, select Add.
2. Select the Type of payment and enter information into the corresponding fields. MyTax will permit only one Type of payment of Special professional income.
   Select Save.
3. Select Save and continue.

Notes:

• Other income shown at this section where the Type of payment is Financial investments not shown elsewhere, Other or Special professional income, is used in working out whether you have to pay PAYG instalments and, if so, your instalment rate.
• If you used the Depreciation and capital allowances tool, fields containing information from the tool cannot be directly adjusted in myTax. To make any adjustments to this information, or to add new assets to the tool, select the 'Use the depreciation and capital allowances tool' link.