This course provides a comprehensive overview of what constitutes assessable income under Australian tax law. It covers the distinction between ordinary and statutory income, the treatment of exempt income, and various specific types of income receipts relevant to tax and accounting professionals. Through detailed lessons and real-world examples, participants will learn how different forms of income are identified and taxed, and how to apply these principles in practical scenarios.

This course provides an in-depth overview of income that is not subject to income tax in Australia. Participants will learn how exempt income is defined and treated under Australian tax law, explore common types of exempt income (such as certain government payments and benefits), and understand how these amounts differ from assessable income and other non-taxable receipts.