INCOME TAX ASSESSMENT ACT 1997 - SECT 405.30 What you cannot count as assessable professional income
INCOME TAX ASSESSMENT ACT 1997 - SECT 405.30
What you cannot count as assessable professional incomeAssessable income from continuous service as author or inventor
(1) You cannot count as * assessable professional income any assessable income you * derive for meeting your obligations under a * scheme to provide services to another person by engaging in activities as the author of a literary, dramatic, musical or artistic work, or as the inventor of an invention, unless:
(a) the scheme was entered into solely to require you to provide services by:
(i) making one or more specified literary, dramatic, musical or artistic works; or
(ii) inventing one or more specified inventions; and
(b) you have not been providing services, and may not reasonably be expected to provide services, to that person or his or her * associates under successive * schemes that result in substantial continuity of your providing services.
Assessable income from certain activities
(2) You cannot count as * assessable professional income any assessable income that you * derive for:
(a) coaching or training * sportspersons; or
(b) umpiring or refereeing a * sporting competition; or
(c) administering a * sporting competition; or
(d) being a member of the pit crew in motor sport; or
(e) being a theatrical or sports entrepreneur; or
(f) owning or training animals.
Payments at end of employment, and capital gains
(3) You cannot count as * assessable professional income:
(a) a * superannuation lump sum or an * employment termination payment; or
(b) an * unused annual leave payment or an * unused long service leave payment; or
(c) a * net capital gain.
This section prevails over section 405 - 20
(4) You cannot count particular assessable income as *
assessable professional income if this section says you cannot, even if
section 405 - 20 says you count it.