EV 1052211902924currentnon-binding advice

Assessable income

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

Are the reimbursement payments you received from your employer for the sale of your former home and the purchase of a new home assessable income?

2

No. Based on the information provided to the Commissioner the payments you received from your employer are not assessable under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997). The payments were a reimbursement to you for expenses related to the sale of your former home and the purchase of your new home in the remote location. This ruling applies for the following period : Year ended 30 June 2023 The scheme commenced on: 1 July 2022

3

You are a professional. You have been transferred to a different area. Your employer made a number of payments to you in relation to the transfer. The payments were made to you as a reimbursement of your costs incurred to purchase and sell your former property because of being deemed a transferred officer.

4

Income Tax Assessment Act 1997 section 6-5