Document ID: chunk:federal_register_of_legislation:F2025C00165:reg:20
Version: federal_register_of_legislation:F2025C00165
Segment Type: reg
Provision Reference: reg 20
Character Range: 16977–17870

20  The simple self-assessment method
 (1) Under the simple self-assessment method, a person's foreign-sourced income for an income year is the amount that is equal to the difference between:
 (a) the total amount of all the person's income for that income year, other than ordinary income or statutory income that has an Australian source; and
 (b) the standard deduction for the income year for the occupation in which the person derived the most income (other than ordinary income or statutory income that has an Australian source) for that income year.
 (2) For paragraph 1(b), the standard deduction for an occupation is:
 (a) if the occupation has an occupation code listed in the ATO Occupation Code—the median ratio of work-related expenses to employment-related income calculated by the Australian Taxation Office for the occupation with that occupation code; or
 (b) otherwise—nil.