Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 405.20

  (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)   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

  (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.