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 Is the amount you received from the Benefits Scheme income in Australia?

1 No. Based on the information provided to the Commissioner the amount you received from the Benefits Scheme is not assessable in Australia as you are a temporary resident who holds a temporary visa, and neither you nor your spouse are residents under the Social Security Act 1991 . Your pension income received from the Benefits Scheme is foreign-sourced income and therefore not assessable in Australia Subdivision 768-R of the Income Tax Assessment Act 1997 ( ITAA 1997). This ruling applies for the following period: Year ended 30 June 202X The scheme commenced on: 1 July 202X

You moved to Australia with your spouse from Country Z. You and your spouse have been living in Australia on a continuous basis. You are on a Special Category visa. The visa is not a protected Special Category visa. You are not an Australian resident within the meaning of the Social Security Act 1991 . Your spouse is not an Australian resident within the meaning of the Social Security Act 1991 . You received a lump sum payment from the Benefits Scheme.

Income Tax Assessable Act 1997 Subdivision 768-R Social Security Act 1991

Details

Type: EPA
Issued: 14 Feb 2025

Source

ATO Legal Database ↗