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  • Assessable income

    Many amounts received by your organisation will be assessable income. Assessable income is any amount that is:

    Assessable income includes receipts from trading with non-members and income from sources outside the organisation.

    Receipts that are assessable income include:

    • bank interest
    • dividends and other income from investments (for example, interest from term deposits and rent from an investment property)
    • the annual total of more than $300 of non-cash benefits (property or services) received in payment for goods and services provided by the organisation
    • fees received for advertising in the organisation's magazine
    • employee contributions that reduce the organisation's fringe benefits tax (FBT) liability
    • sponsorships and certain grants
    • proceeds from fundraising drives to the public (for example, the sale of lamingtons, cakes or chocolates)
    • food and drinks sold to non-members visiting the organisation
    • fees received for hiring out the organisation's hall, facilities or equipment to the public
    • fees received for the organisation's catering services at functions for the public
    • commissions received from vending machines
    • amounts non-members pay to attend dinners, parties, dances or social functions arranged by the organisation
    • amounts non-members pay to attend a talk, presentation or workshop arranged by the organisation
    • non-member proceeds from a raffle
    • proceeds from selling souvenirs to non-members
    • gaming income derived by the organisation from non-members where the organisation owns and operates the gaming machines
    • gaming income derived by the organisation under arrangements entered into with an external gaming or Keno operator.

    Find out about:

    • Income and deductions for business – for more examples of assessable income.
    • Other issues – for the disposal of an asset may result in a capital gain or loss to an organisation.
    • Classifying expenses – if your organisation uses a depreciable asset for a taxable purpose, the disposal of the asset may also result in an amount to be treated as assessable income or a deduction.
      Last modified: 04 Dec 2018QC 23099