Show download pdf controls
  • More information



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Find out about:

    If you have income not listed here that you are unsure about, search our website or phone 13 28 61.

    Amount released by a superannuation fund greater than the liability stated on the release authority

    If you use a release authority that we give you to withdraw an amount from your superannuation fund, the payment is tax-free unless you withdraw an amount greater than the liability printed on the release authority.

    You must include the excess of the total amount released to you over the liability printed on the release authority in your assessable income for the income year in which you withdrew the money.

    See also:

    Income earned through the sharing economy or other marketplaces

    The sharing economy is economic activity through a digital platform (such as a website or an app) where people share assets or services for a fee. Amounts you receive are assessable income, even if you are not carrying on a business.

    Include at this section any income you received for:

    • peer-to-peer renting or hiring (sharing) through a digital platform – for example, cars and caravans through platforms such as Camplify or Get My Boat or car parking spaces through platforms such as Parkhound  
      • if you own or lease an asset jointly, then you declare income in proportion to your share of ownership
    • providing your services or completing tasks through a digital platform.

    If you had any allowable deductions related to sharing economy income you have included at this section, show them at Other deductions.

    Don’t include the following income earned through a digital platform:

    • rental income you have reported in the Rent section
    • income earned as an employee
    • income earned in carrying on a business.

    See also:

    Jury attendance fees

    Include any jury attendance fees you received here. Don't include attendance fees if you had to pay the fees to your employer because you received your normal income while on jury duty. Don't include anywhere on your tax return travel and meal allowances that were included in the jury fees.

    Foreign exchange gains

    At this section, include any foreign exchange gains (forex gains).

    Don’t show forex gains at this section:

    Show any deductible foreign exchange losses (forex losses) at Other deductions.

    Under the forex measures, gains attributable to a fluctuation in a currency exchange rate or to an agreed exchange rate differing from an actual exchange rate are included in assessable income. The gains are assessable when they are realised. This is when you:

    • dispose of foreign currency or a right thereto
    • cease to have a right to receive or pay foreign currency, or
    • cease to have an obligation to pay or receive foreign currency.

    Some forex gains are not assessable, and in some circumstances, you might make an election that affects the realisation or treatment of a forex gain. These are set out at Foreign exchange gains and losses together with more information about the forex measures and how to calculate your foreign exchange gains.


    If you were an Australian resident for tax purposes in 2020–21, include at this section income from royalties that has not been included at either Business income or losses or Other foreign income.

    Bonus amounts distributed from friendly society income bonds

    You must include at this section any bonus amounts distributed from a friendly society income bond. Your friendly society income bond distribution statement will advise you of the amount to include.

    Taxable scholarships, bursaries, grants and other educational awards

    Include at this section any income from a scholarship, bursary, grant or other award, on which you have to pay tax, unless you have already shown it:

    If you are not sure about a payment, contact the organisation that paid you. If you then need more information, phone 13 28 61.

    If you received a taxable scholarship you may be able to claim the self-education expenses you incurred in meeting the study requirements of the scholarship. For more information, see Other deductions.

    Income from activities as a special professional

    If you are a special professional, you must include your taxable professional income at this section.

    A special professional is an author of a literary, dramatic, musical or artistic work, an inventor, a performing artist, a production associate or an active sportsperson. As a special professional, you may be entitled to a concessional rate of tax where your taxable income includes certain amounts of professional income which, when added to your other income, moves you into a higher tax bracket.

    You are entitled to this concession in 2020–21 if:

    • you were an Australian resident
    • you were a special professional, and
    • your taxable professional income was more than $2,500 in the first year that this concession applied.

    To work out your taxable professional income, see Income averaging for special professionals.

    Reimbursements and recoupments of tax-related expenses (not including ATO interest remitted) or election expenses which you have claimed as a deduction

    If you received a reimbursement or refund in 2020–21 of any tax-related expenses (not including ATO interest remitted) or election expenses which you have claimed, you must include the amount at this section.

    You must also include at this section:

    • any remissions of goods and services tax (GST)
    • pay as you go (PAYG) instalment underestimation charge.

    ATO interest remitted

    This applies to any remission of an ATO interest or underestimation charge. If you claimed or can claim a deduction for an interest or underestimation charge incurred in 2019–20 or earlier years and received a remission (a partial or full reduction) of that charge in 2020–21, you must include the amount of the remission at this section. Similarly, if you are claiming at Cost of managing tax affairs a deduction for an interest charge incurred during 2020–21, and some or all of it was remitted during 2020–21, you must include the amount of the remission at this section.

    See also:

    Assessable balancing adjustment

    You must include at this section any assessable balancing adjustment when you stop holding a depreciating asset (for example, when it is sold, lost or destroyed) for which you have claimed a deduction for depreciation or decline in value in previous years. You may be entitled to a deduction if an employee or agent misappropriates some or all of the amount that you received, or were entitled to receive, as a result of you no longer holding the depreciating asset.

    See also:

    Gains derived on disposal or redemption of traditional securities

    The gains derived on disposal or redemption of traditional securities are assessable under section 26BB of the Income Tax Assessment Act 1936 (ITAA 1936).

    For more information, see 'Sale or disposal of company bonds and convertible notes' in You and your shares.

      Last modified: 01 Jun 2021QC 65236