Private ruling: Taxation of income received under a scholarship
Date of advice: 6 November 2017
Published: April 2018
Ruling period: Year ending 30 June 2017
Date scheme commenced: 1 July 2016

Ruling: 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.

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