1

Non-assessable

• Revenue from mutual dealings with members (for example, membership subscriptions).
• Revenue that the tax law classifies as not assessable (for example, donations received).

Non-deductible

• Expenses relating to members (for example, the cost of membership badges).
• Expenses that the tax law specifies as non-deductible (for example, fines and penalties imposed by an Australian law).

2

Assessable

• Revenue from trading activities relating to non-members (for example, fees from hiring function rooms to the public).
• Revenue from sources outside the organisation (for example, bank interest received).
• Revenue that the tax law specifies as assessable (for example, payments received to fulfil a lease obligation to repair).

Deductible

• Expenses relating to non-members (for example, the cost of running a function solely for non-members).
• Expenses relating to fully assessable income (for example, fees for earning bank interest).
• Expenses that the tax law allows without apportionment (for example, contributions to staff superannuation).

3

Apportionable

Revenue from trading activities relating to members and non-members (for example, bar sales).

Apportionable

Expenses of trading activities relating to members and non-members (for example, bar expenses).