What is assessable income?
Learn what assessable income means and why it matters when preparing an Australian tax return.
Summary
Assessable income is income that is considered for tax purposes. It may include salary and wages, business income, investment income, rental income, and other amounts that the ATO says need to be declared.
What this means
Assessable income is important because it forms the starting point for working out taxable income. Not every amount you receive is treated the same way, so the ATO provides guidance on different income types.
Individuals should check the specific category of income rather than assuming all payments are treated in the same way.
Typical actions
- Review all income received during the year.
- Check ATO guidance for each income type.
- Keep payment summaries, statements, and other income records.
- Ask a registered tax agent if the treatment of an amount is unclear.
Official ATO sources
Last checked: 20 June 2026
Income you must declare
Explains income categories individuals may need to declare.
Investment income
Explains common investment income such as interest, dividends, rent, crypto assets and capital gains.
Tax time definitions
Provides definitions used in ATO tax instructions.
Related questions
- What is taxable income?
- What income do I need to declare?
- What is a tax deduction?
- How does tax work on dividends?
Important notice: Tax Clarity is an independent information tool. This page provides general information based on official sources. It does not provide tax, legal, financial, or accounting advice. Tax rules can change, and how they apply depends on your circumstances. For advice about your situation, speak with a registered tax agent or qualified professional.
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