Income Tax Assessment Act 1997
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Hide history noteWork 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
405-20(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
405-20(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
405-20(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
405-20(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
405-20(6)
You also count any assessable income that you * derive:
(a) as consideration for:
(i) assigning all or part of the patent for an invention that you invented; or
(ii) granting an interest in the patent for such an invention by granting a licence; or
(iii) assigning the right to apply for a patent for such an invention; or
(b) as an advance on account of royalties relating to such a patent.
Other assessable income from works or inventions
405-20(7)
You also count any assessable income that you * derive (as * royalties or otherwise):
(a) for a literary, dramatic, musical or artistic work of which you are the author; or
(b) in relation to copyright in such a work; or
(c) for an invention that you invented; or
(d) in relation to a patent for such an invention.
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