Sometimes you may receive amounts that are not subject to tax. In that situation, they are not included as part of your assessable income. However, they may be used in other calculations on your tax return.

The tax treatment of these amounts depends on whether they are classified as:

Exempt income

Exempt income may be considered when calculating the tax losses of earlier income years that you can deduct and the adjustable taxable income of your dependents. It is income on which you don’t need to pay tax.

Non-assessable, non-exempt income

It doesn’t affect your tax losses, but may be considered when calculating your liability for the Medicare levy surcharge and the adjustable taxable income of your dependents. It is income you don’t need to pay tax on.

Other amounts that are not taxable

Generally, you do not have to declare:

• Rewards or small gifts unless they are substantial amounts or you receive them in relation to income earning activity.
• Prizes won in ordinary lotteries
• Prizes won in game show unless you regularly receive appearance fees or game-show winnings
• Payments received for child support and spouse maintenance.

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