What is Assessable Income?

Labels: Tax general

Assessable income in Australia is income that can be taxed. Even though it is assessable, tax may not be payable if the income for the year ended 30 June is less than the appropriate tax-free threshold. Examples of assessable income are:

a salary and wages
a interest from bank accounts
a dividends and other income from investments
a bonuses and overtime an employee receives
a business profits
a commission a salesperson receives
a pensions
a rent.

By David Maynard

CEO - My Tax Zone

comments

1 Response to "What is Assessable Income?"

Anonymous said...

23 March, 2011

this is really good and simple definition.

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