24 Other income 2018

Did you receive any other income?

Other income includes:

• an amount released by one or more of your superannuation funds greater than the liability stated on a release authority
• lump sum payments in arrears; do not include lump sum payments in arrears relating to superannuation income streams, show them at item 7
• Business Services Wage Assessment Tool (BSWAT) lump sum payment in arrears
• jury attendance fees
• foreign exchange gains
• royalties
• bonus amounts distributed from friendly society income bonds
• taxable scholarships, bursaries, grants or other educational awards
• benefits or prizes from investment-related lotteries and some game-show winnings
• income from activities as a special professional (author of a literary, dramatic, musical or artistic work, inventor, performing artist, production associate or active sportsperson); amounts you have already included at item 1, 2, 13, 14 or 15 may also have to be shown here as you may be entitled to a concessional rate of tax if you have certain amounts of professional income; you will not be taxed twice on these amounts
• reimbursements of tax-related expenses (including amounts imposed by us as an interest charge) or election expenses which you have claimed as a deduction
• any assessable balancing adjustment when you stop holding a depreciating asset (for example, because of its disposal, loss or destruction) for which you have claimed a deduction for depreciation or decline in value in previous years; your car is a depreciating asset
• payments made to you under an income protection, sickness or accident insurance policy where the premiums were deductible and the payments replaced income; do not include payments from which tax has been withheld which you have already shown at item 1, or payments which have been shown on a payment summary which you have already shown at item 2
• interest from infrastructure borrowings if you intend to claim a tax offset at item T10
• gains derived on disposal or redemption of traditional securities that are assessable under section 26BB of the Income Tax Assessment Act 1936
• allowances or payments you received as a member of a local government council that you have not shown at item 1 or 2
• other taxable allowances or payments you received from Services Australia that you have not shown at item 5 or 6 (such as the activity supplement or farm financial assessment supplement that are paid under the farm household allowance program)
• work-in-progress amounts assessable under section 15-50 of the Income Tax Assessment Act 1997 that you received and have not included at item 15 Net income or loss from business.

No	Go to Total supplement income or loss 2018, or return to main menu Individual tax return instructions 2018.
Yes	Read on.

For an explanation of many of these types of income, see You need to know. If you have income not listed here that you are unsure about, search this site or phone 13 28 61.

Do not show at this item:

• foreign exchange losses
• rental income or losses
• business income or losses
• partnership income or losses
• capital gains or capital losses
• discounts on shares, stapled securities (provided at least one of the stapled interests is a share in a company) or rights to acquire shares or such stapled securities, acquired under an employee share scheme.

Other questions deal with these matters.

You need to know

An amount released by one or more of your superannuation funds which is greater than the liability stated on a release authority

If you use a release authority that we give you to withdraw an amount from your superannuation fund, the payment is tax-free unless you withdraw an amount greater than the liability printed on the release authority.

You must include the excess of the total amount released to you over the liability printed on the release authority in your assessable income for the income year in which you withdrew the money.

See also:

• Super contributions – too much can mean extra tax

Lump sum payments in arrears

These payments relate to an earlier income year or years and should normally be shown at E on your PAYG payment summary – individual non-business or at E on your PAYG payment summary – foreign employment.

Include at this item any lump sum payments you received in relation to the following:

• back payments of salary or wages that accrued in a period more than 12 months before the date of payment
• salary or wages that accrued during a period of suspension and were paid to you on resuming duty
• back payments of non-superannuation annuities that accrued, in whole or in part, in an earlier year or years of income
• back payments of repatriation and social welfare pensions, allowances or payments, including those paid by foreign governments
• back payments of periodical workers and accident compensation payments but not payments made to the owner of the policy
• back payments of Commonwealth education or training payments
• one-off lump sum payments (called BSWAT lump sum in arrears on your Centrelink PAYG payment summary) paid to certain employees who worked for an Australian disability enterprise (ADE).

You may get a tax offset if you received certain lump sum payments in 2017–18. We will calculate the tax offset for you. You need to provide additional information.

On a separate sheet of paper:

• print Schedule of additional information – Item 24
• show the amount of the payment in arrears for each income year involved
• print your name, address and tax file number.

Then on your tax return:

• print X in the Yes box at Taxpayer's declaration question 2 on page 10
• attach your schedule to page 3 of your tax return.

If you received the BSWAT lump sum in arrears payment, your letter of offer from the Department of Social Services will include an Attachment E: Important tax information with your BSWAT tax table information.

For your Schedule of additional information – item 24:

• provide a photocopy of Attachment E: Important tax information
• write your tax file number (TFN) on top of the photocopy
• attach the photocopy to page 3 of your tax return.

See also:

• Instructions in an easy read format on how to include BSWAT information on your tax return.

If you have received a PAYG payment summary – foreign employment showing an amount at 'Lump sum E' on which foreign tax has been paid you will also need to include the amount at U item 20. You will not be taxed twice on this amount.

Jury attendance fees

Include any jury attendance fees you received here. Do not include attendance fees if you had to pay the fees to your employer because you received your normal income while on jury duty. Do not include anywhere on your tax return travel and meal allowances that were included in the jury fees.

Foreign exchange gains

Unless you carried on a business and have included all your foreign exchange gains (forex gains) in calculating your business net income or loss at item 15, your forex gains must be shown at this item (except any foreign source forex gains that you have included at item 20).

Under the forex measures, gains attributable to a fluctuation in a currency exchange rate or to an agreed exchange rate differing from an actual exchange rate are included in assessable income. The gains are assessable when they are realised. This is when:

• you dispose of foreign currency or a right thereto
• you cease to have a right to receive or pay foreign currency, or
• you cease to have an obligation to pay or receive foreign currency.

Some forex gains are not assessable, and in some circumstances, you might make an election that affects the realisation or treatment of a forex gain. These are set out at Foreign exchange gains and losses together with more information about the forex measures and how to calculate your foreign exchange gains.

If you had a deductible foreign exchange loss, go to question D15 Other deductions 2018.

Royalties

If you were an Australian resident for tax purposes in 2017–18, include at this item income from royalties that has not been included at either item 15 or 20.

Bonus amounts distributed from friendly society income bonds

You must include at this item any bonus amounts distributed from a friendly society income bond. Your friendly society income bond distribution statement will advise you of the amount to include.

Taxable scholarships, bursaries, grants and other educational awards

Include at this item any income from a scholarship, bursary, grant or other award, on which you have to pay tax, unless you have already shown it:

• at item 1 or 2, or
• in calculating your business net income or loss shown at item 15.

If you are not sure about a payment, contact the organisation that paid you. If you then need more information, phone 13 28 61.

If you received a taxable scholarship you may be able to claim the self-education expenses you incurred in meeting the study requirements of the scholarship. For more information go to D15 Other deductions 2018.

Benefits or prizes from investment-related lotteries and some game-show winnings

You must include at this item the value of benefits or prizes you received from an investment-related lottery offered by an investment body such as a bank, building society or credit union. Prizes can include cash, low-interest or interest-free loans, holidays or cars.

Do not include prizes won in ordinary lotteries, for example, lotto draws, caskets and raffles. Do not include prizes won in game shows unless you regularly receive appearance fees or game-show winnings.

Income from activities as a special professional

If you are a special professional, you must include your taxable professional income at this item.

A special professional is an author of a literary, dramatic, musical or artistic work, an inventor, a performing artist, a production associate or an active sportsperson. As a special professional, you may be entitled to a concessional rate of tax where your taxable income includes certain amounts of professional income which, when added to your other income, moves you into a higher tax bracket.

You are entitled to this concession in 2017–18 if:

• you were an Australian resident
• you were a special professional, and
• your taxable professional income was more than $2,500 in the first year that this concession applied.

Next step:

• To work out your taxable professional income, read Income averaging for special professionals 2018.

Reimbursements and recoupments of tax-related expenses or election expenses which you have claimed as a deduction

If you received a reimbursement or refund in 2017–18 of any tax-related expenses or election expenses which you have claimed, or can claim, you must include the amount at this item.

This question also applies to any remission of an ATO interest charge. If you claimed or can claim a deduction for an interest charge incurred in 2016–17 or earlier years and received a remission (a partial or full reduction) of that interest charge in 2017–18, you must include the amount of the remission at this item. Similarly, if you are claiming at N item D10 a deduction for an interest charge incurred during 2017–18, and some or all of it was remitted during 2017–18, you must include the amount of the remission at this item.

You must also include at this item any remissions you received in 2017-18 of goods and services tax (GST) and pay as you go (PAYG) instalment underestimation charges that you have claimed, or can claim, as a deduction.

Assessable balancing adjustment

You must include at this item any assessable balancing adjustment when you stop holding a depreciating asset (for example, when it is sold, lost or destroyed) for which you have claimed a deduction for depreciation or decline in value in previous years. You may be entitled to a deduction if an employee or agent misappropriates some or all of the amount that you received, or were entitled to receive, as a result of you no longer holding the depreciating asset.

See also:

• Guide to depreciating assets 2018 (NAT 1996).

Gains derived on disposal or redemption of traditional securities

The gains derived on disposal or redemption of traditional securities are assessable under section 26BB of the Income Tax Assessment Act 1936 (ITAA 1936).

See also:

• Sale or disposal of company bonds and convertible notes in You and your shares 2018 (NAT 2632).

Other allowances and payments from Services Australia

You must include at this item any taxable allowances and payments from Services Australia that you have not already shown at item 5 or 6 such as the activity supplement and farm financial assessment supplement that are paid under the farm household allowance program.

Completing this item

Step 1

From the list below, work out whether the income you received is a category 1, 2 or category 3 type of income.

Types of income: Category 1

• Lump sum payments in arrears except lump sum payments in arrears relating to superannuation income streams
• Business Services Wage Assessment Tool (BSWAT) lump sum payment in arrears
• Foreign exchange gains
• Benefits or prizes from investment-related lotteries and some game-show winnings
• Reimbursements of tax-related expenses (not including ATO interest remitted) or election expenses
• Assessable balancing adjustments when you stop holding a depreciating asset
• Gains, on the disposal or the redemption of traditional securities, that are assessable under section 26BB of the ITAA 1936
• Work-in-progress amounts assessable under section 15-50 of the Income Tax Assessment Act 1997

Types of income: Category 2 (ATO interest)

• Remissions of the ATO interest charge that you can claim or have claimed as a deduction.

Types of income: Category 3

• Any income not described in category 1 or 2.

Category 3 income shown at this item and certain amounts of income from some other items are used in working out whether you have to pay PAYG instalments and, if so, your instalment rate.

If you have only one type of income in a category, print a description in the relevant Type of income category box at item 24 on page 15 of your tax return. If you received more than one type for any category of income, you will need to provide full details:

• print Additional information in the relevant Type of income category box
• print Schedule of additional information – Item 24 on the top of a separate sheet of paper
• include your name, address and tax file number on that separate sheet of paper
• show each type and amount of income you received within the category
• print X in the Yes box at Taxpayer's declaration question 2 on page 10 of your tax return
• attach your schedule to page 3 of your tax return.

Step 2

If you received lump sum payments in arrears, write the amount of any tax withheld from these payments at E item 24. Do not show any tax withheld included elsewhere on your tax return.

If you received the BSWAT lump sum in arrears payment, no tax was withheld. Leave E item 24 blank.

Step 3

If you are a special professional, write the taxable professional income you received at Z item 24. Do not show cents. We take this amount into account for income averaging.

Step 4

Add up all your category 1 income and write the total at Y item 24. Do not show cents.

Step 5

Add up all your category 2 income (ATO interest) and write the total at X item 24.

Step 6

Add up all your category 3 income, including the amount you wrote at Z item 24 unless you have already included it in your answer to question 1, 2, 13, 14 or 15 and write this total at V item 24. Do not show cents.

Check that you have...

• printed on your tax return your type of income
• written on your tax return the total of your other income
• attached to page 3 of your tax return your Schedule of additional information – Item 24, if you need to send us one
• attached to page 3 of your tax return a photocopy of Attachment E: Important tax information (from your letter of offer), if you need to send us one.

Where to go next

• Go to Total supplement income or loss 2018.
• Return to main menu Individual tax return instructions 2018.
• Go back to question 23 Forestry managed investment scheme income 2018.

Provides a list of other types of income you need to declare on the supplementary section of the tax return.