Document ID: chunk:federal_register_of_legislation:C2025C00029:section:14:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 14 (pt 14/19)
Character Range: 5535080–5538067

section 405‑50.

Subdivision 405‑A—Above‑average special professional income

Table of sections
405‑15 When do you have above‑average special professional income?

405‑15  When do you have above‑average special professional income?
 (1) Your taxable income for the *current year includes above‑average special professional income if and only if:
 (a) you are an individual; and
 (b) you have been an Australian resident for all or part of the current year; and
 (c) your *taxable professional income for the current year exceeds your *average taxable professional income for the current year; and
 (d) either:
 (i) your *taxable professional income for the current year is more than $2,500; or
 (ii) your *taxable professional income for an earlier income year was more than $2,500 and you were an Australian resident for all or part of that income year.

How much above‑average special professional income do you have?
 (2) The amount of *above‑average special professional income in your taxable income for the *current year is the difference between:
 (a) your *taxable professional income for the current year; and
 (b) your *average taxable professional income for the current year.

Subdivision 405‑B—Assessable professional income

Table of sections
405‑20 What you count as assessable professional income
405‑25 Meaning of special professional, performing artist, production associate, sportsperson and sporting competition
405‑30 What you cannot count as assessable professional income
405‑35 Limits on counting amounts as assessable professional income
405‑40 Joint author or inventor treated as sole author or inventor

405‑20  What you count as assessable professional income
 (1) Work out your assessable professional income for an income year by adding up all your assessable income for the income year that you count under this Subdivision.
Note 1: Section 405‑30 may stop you counting an amount.
Note 2: Subsection 405‑35(1) stops you counting an amount more than once, even if it is described in more than one subsection of this section.
Note 3: Subsection 405‑35(2) may affect the amount you count.

Assessable income from professional services
 (2) You count any assessable income that you *derive as a reward for providing services relating to your activities as a *special professional.

Assessable income from prizes
 (3) You also count any assessable income that you *derive as a prize for your activities as a *special professional.

Assessable income from promotions and commentary
 (4) You also count any assessable income that you *derive, because you are or were a *special professional, for:
 (a) endorsing or promoting goods or services; or
 (b) appearing or participating in an advertisement; or
 (c) appearing or participating in an interview; or
 (d) providing services as a commentator; or
 (e) providing similar services.

Assessable income from assigning copyright or granting a licence
 (5) You also count any assessable income that you *derive:
 (a)