Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_5:p6
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 6/11)
Character Range: 703388–706382

Australian resident for all or part of that income year.

Note: Your taxable income for an income year can include above‑average special professional income even if you meet the requirement in subparagraph (1)(d)(ii) for an income year before the 1998‑99 income year: see section 405‑1 of the Income Tax (Transitional Provisions) Act 1997.

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) as consideration for:

 (i) assigning all or part of the copyright in a literary, dramatic, musical or artistic work of which you are the author; or

 (ii) granting an interest in the copyright in such a work by granting a licence; or

 (b) as an advance on account of royalties relating to such a copyright.

Assessable income from assigning or granting patent rights

 (6) You also count any assessable income that you *derive:

 (a) as consideration for:

 (i)