Assessable Income (Part 1): What Counts and Why

Discover what is treated as assessable income and apply core principles through recent cases and worked examples.

In this session, we cover:

• Understand the core components of assessable income.

  • Key Characteristics of Ordinary income​

• Apply the rules for residency, source, and derivation.​

  • Cash vs Accruals​

• Define ordinary income using principles from case law.

  • The Tax Reconciliation​

• Distinguish between income and capital receipts.

  • Property development​

    • Mere realisation

    • Isolated venture

    • Business income​

• Apply these concepts in a practical case study.