| Disclaimer 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 private advice
Authorisation Number: 1051932639225
Date of advice: 11 January 2022
Ruling
Subject: Assessable income - clinical trial
Question
Is the payment you receive for your participation in a clinical trial included in your assessable income?
Answer
No. Having considered your circumstances and the relevant facts, the payment you received to attend the medical trial are not considered ordinary income and are not required to be included in your assessable income under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997).
This ruling applies for the following period:
30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You participated in a clinical trial.
You had to attend a clinic for part of the trial.
You also had to complete tasks at home as part of the trial.
The trial went for less than a month.
You were paid $XXXX to participate in the trial.
It was stated that the payment was made for your time and inconvenience.
This amount included parking and travel expenses.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 6-5