Tax Source

Wiki for Australian Tax Information



Tax consists mostly smaller concepts that all sum together to give you your taxable income. The idea of a concept is not defined anywhere in tax legislation but they are things that are recurring throughout all returns. The order here is generally the same as what is found in a return and where a return numbers a concept I have included that reference number here. Most of these won’t apply to you, the approach that tax legislation generally takes is that some thin is defined (Such as Salary and Wages Income), and if you meet that definition then that amount is to be included in your return (If a definition is relevant then it is included in your tax income).

The Australian Taxation Office

The overarching government entity responsible for policing the Taxation Legislation.

Australian Resident

Tax File Number

The identification that every entity has that helps the Tax Office keep track

Taxable Income

The taxable income is the basis for tax payable calculations. It is the sum of all income earned for the year less deductions


Salary or Wages (1)

Income Earned from Personal Exertion/Services Rendered

Allowances, Earnings, Tips, Director’s Fees (2)

Employer Lump Sum Payments (3)

Employment Termination Payments (4)

Australian Government Allowances and Payments like Newstart, Youth Allowance and Austudy payment (5)

Australian Government pensions and allowances (6)

Australian annuities and superannuation income streams (7)

Australian superannuation lump sum payments (8)

Attributed personal services income (Personal Services Income - PSI) (9)

Interest (10)

Interest is the income from financial assets (Such as a savings account or loan)

Dividends (11)

Employee share schemes (12)

Partnerships and trusts (13 - Supplementary)

Personal Services Income (14 - Supplementary and Business and Professional Items Schedule)

Net Income or Loss from Business (15 - )

Net income or loss from business

Deferred non-commercial business losses

Net farm management deposits or repayments

Capital gains

Foreign entities

Foreign source income and foreign assets or property


Bonuses from life insurance companies and friendly societies

Forestry managed investment scheme income

Other Income


Low value pool deduction (D6)

Interest deductions (D7)

Dividend deductions (D8)

Gifts or donations (D9)

Cost of managing tax affairs (D10)

Deductible amount of undeducted purchase price of a foreign pension or annuity

Personal superannuation contributions

Deduction for project pool

Forestry managed investment scheme deduction

Other deductions - not claimable at items D1 to D 14 or elsewhere


Tax losses of earlier income years (L1)

Tax offsets

Seniors and Pensioners (includes self-funded retirees) (T1)

Australian superannuation income stream (T2)

Superannuation contributions on behalf of your spouse

Zone or overseas forces

Total net medical expenses for disability aids, attendant care or aged care

Invalid and invalid carer

Landcare and water facility

Early stage venture capital limited partnership

Early stage investor

Other non-refundable tax offsets

Other refundable tax offsets

Medicare levy reduction or exemption (M1)

Medicare levy surcharge (MLS) M2

Private health insurance policy details


Under 18 (A1)

Part-year tax-free threshold (A2)

Government super contributions (A3)

Working holiday maker net income (A4)

Amount on which family trust distribution tax has been paid

Credit for Interest on Tax Paid

Credit for interest on early payments -amount of interest (C1)

Income Tests

Total reportable fringe benefits amounts (IT1)

Reportable employer superannuation contributions (IT2)

Tax-free government pensions (IT3)

Target foreign income (IT4)

Net financial investment loss (IT5)

Net rental property loss (IT6)

Child support you paid (IT7)

Number of dependent children (IT8)

Spouse details - married or de facto

Taxpayers’s declaration

Tax Schedules

Supplementary Section