| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of your written advice
Authorisation Number: 1051243650118
Date of advice: 6 November 2017
Ruling
Subject: Taxation of income received under a scholarship
Question and answer
Will you be taxed on the income received under the contract of the Professional Placements Scholarship?
No.
Income received under a scholarship by a full time student at a school, college or university is tax exempt unless an exception or special conditions apply.
Based on the facts provided we consider the payments made to you are exempt under the Income Tax Assessment Act 1997 Section 51-10 and the exceptions under Section 51-35 do not apply to this case.
This ruling applies for the following period:
Year ending 30 June 2017
The scheme commences on:
1 July 2016
Relevant facts and circumstances
You are a full time student.
You are currently attending the education provider campus as a Student.
You signed the Scholarship agreement.
Your primary obligation is the successful completion of the learning program as defined in the agreement.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 51-10