Income Tax Assessment Act 1997
Your assessable income includes the value to you of all allowances, gratuities, compensation, benefits, bonuses and premiums *provided to you in respect of, or for or in relation directly or indirectly to, any employment of or services rendered by you (including any service as a member of the Defence Force). 15-2(2)
This is so whether the things were *provided in money or in any other form. 15-2(3)
However, the value of the following are not included in your assessable income under this section:
(a) a *superannuation lump sum or an *employment termination payment;
(b) an *unused annual leave payment or an *unused long service leave payment;
(c) a *dividend or *non-share dividend;
(d) an amount that is assessable as *ordinary income under section 6-5 ;
(e) *ESS interests to which Subdivision 83A-B or 83A-C (about employee share schemes) applies.
Section 23L of the Income Tax Assessment Act 1936 provides that fringe benefits are non-assessable non-exempt income.