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Edited version of private advice
Authorisation Number: 1052153955301
Date of advice: 30 August 2023
Ruling
Subject: Education
Question 1
Is the prize amount you received on X June 20XX exempt from tax under section 51-10 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes.
Question 2
Is the grant amount you received on X November 20XX exempt from tax under section 51-10 of the ITAA 1997?
Answer
Yes.
Question 3
Is the grant amount you received on X March 20XX exempt from tax under section 51-10 of the ITAA 1997?
Answer
Yes.
You were a full-time university student who received a prize and grants that were provided principally for educational purposes. They were not part of a government payment nor were there any requirements for you to complete any work, either as an employee or contract for labour, at time of receipt or any time in the future. Accordingly, your travel grants and prize payments are exempt from income tax and will not form part of your assessable income.
This private ruling applies for the following periods:
Year ending X June 20XX
Year ending X June 20XX
The scheme commences on:
X July 20XX
Relevant facts and circumstances
This private ruling is based on the facts and circumstances set out below. If your facts and circumstances are different from those set out below, this private ruling has no effect, and you cannot rely on it. The fact sheet has more information about relying on your private ruling.
In 20XX, you commenced studying a double degree at university.
Additionally, you studied a diploma, concurrent with the double degree.
On X June 20XX, you received a prize in the amount of $X relating to a unit you completed in semester X, 20XX.
On X November 20XX, you received a grant in the amount of $X to study at an international institution.
On X March 20XX, you received a grant in the amount of $X to study at an international institution.
At the time of receipt of all payments between 20XX and 20XX, you were a full time student at the university.
There were no requirements for you to be employed or enter into any contract for labour for the provider, or that give the provider the right to your work, in relation to any of the grants or payments received.
The payments were paid principally for educational purposes.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 51-10
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