Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 405 - Above-average special professional income of authors, inventors, performing artists, production associates and sportspersons  

Subdivision 405-B - Assessable professional income  

SECTION 405-35   Limits on counting amounts as assessable professional income  
No double-counting

405-35(1)    
You cannot count the same amount as ^* assessable professional income more than once, even if it is described in more than one subsection of section 405-20 .

Amounts that are partly assessable professional income

405-35(2)    
If:

(a) you ^* derive assessable income under or as a result of a ^* scheme; and

(b) the assessable income consists of a part that is counted as ^* assessable professional income and another part that cannot be; and

(c) one component is unreasonably large and the other component is unreasonably small, for reasons that are directly or indirectly related to one another;

you must work out your ^* assessable professional income as if the unreasonably large component were reduced by a reasonable amount and the unreasonably small component were increased by the same amount.

405-35(3)    
Subsection (2) affects your ^* assessable professional income:

(a) whether you ^* derived the assessable income directly or indirectly under or as a result of the ^* scheme; and

(b) whether or not a reason mentioned in paragraph (2)(c) is the only reason why a component is unreasonably large or small.