Document ID: chunk:federal_register_of_legislation:C2025C00162:section:8:p2
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 8 (pt 2/15)
Character Range: 80229–82989

Where a person or a person's partner has disposed of income, the person's income may be taken to include the amount which has been disposed of—see sections 1106‑1112.
Note 3: Income is equivalent to ordinary income plus maintenance income.
income amount means:
 (a) valuable consideration; or
 (b) personal earnings; or
 (c) moneys; or
 (d) profits;
(whether of a capital nature or not).
income from personal exertion means an income amount that is earned, derived or received by a person by way of payment for personal exertion by the person but does not include an income amount received as compensation for the person's inability to earn, derive or receive income through personal exertion.
instalment of parental leave pay means an instalment of parental leave pay under the Paid Parental Leave Act 2010.
ordinary income means income that is not maintenance income or an exempt lump sum.
Note 1: For maintenance income see section 10.
Note 2: Amounts received as a series of periodic compensation payments may result in reduction of the person's rate of social security pension or benefit under Part 3.14: if this happens the amounts are not counted as ordinary income (see section 1176).
Note 3: For provisions affecting the amount of a person's ordinary income see Division 1 of Part 3.10 (ordinary income concept and treatment of certain income amounts), sections 1074 and 1075 (business income), Division 1B of Part 3.10 (income from financial assets (including income streams (short term) and certain income streams (long term)) and Division 1C of Part 3.10 (income from income streams not covered by Division 1B of Part 3.10).
student income bank means the student income bank set out:
 (a) in Module J of the Youth Allowance Rate Calculator; or
 (b) in Module E of the Austudy Payment Rate Calculator.
working credit participant means a person who is a working credit participant within the meaning of section 1073D.
 (1A) A reference in this Act to employment income, in relation to a person, is a reference to ordinary income of the person:
 (a) that is for remunerative work of the person as an employee in an employer/employee relationship; and
 (b) that includes, but is not limited to:
 (i) salary, wages, commissions and employment‑related fringe benefits; and
 (ii) if the person is engaged on a continuing basis in that employer/employee relationship—a leave payment to the person;
  but does not include:
 (c) a superannuation payment to the person; or
 (d) a payment of compensation, or a payment to the person under an insurance scheme, in relation to the person's inability to earn, derive or receive income from that remunerative work; or
 (e) if the person is not engaged on a continuing basis in that employer/employee relationship—a