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Edited version of your private ruling
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Ruling
Subject: Payment for services
Question:
Are the amounts received from providing services assessable income?
Answer:
Yes
This ruling applies for the following period:
Year ended 30 June 2012
The scheme commenced on:
1 July 2011
Relevant facts and circumstances
You were paid for services that you provided.
You are a resident of Australia for tax purposes.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 6-5
Reasons for decision
Section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997) provides that the assessable income of a resident taxpayer includes ordinary income derived directly or indirectly from all sources during the income year.
Generally, where a person receives remuneration as a result of providing their services or labour, the amounts are included in the taxpayer's assessable income.
In your case, you provided services for which you received remuneration. Accordingly, the amounts received are required to be included in your tax return as the amounts form part of your assessable income under section 6-5 of the ITAA 1997.
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