Income averaging eligibility
You're eligible for special professional income averaging (a concessional tax treatment) if the following applies, you:
- are an individual who is an Australian resident at any time during the income year
- are a special professional
- have satisfied the first-year requirements in either the current income year or an earlier income year.
First-year requirements
You become eligible for special professional income averaging when your taxable professional income (TPI) first exceeds $2,500 This is known as professional year 1.
You don't need to be an Australian resident for every income year since establishing your eligibility for the professional year 1.
Continue to: Types of special professionals