Introduction

Income is defined as:

• any money received (before income tax) which is not a one-off capital payment

For example: wages, salary, commission, parental leave payments, net profit before tax from self-employment 

• the value of any interest (before income tax) acquired which is not a one-off capital payment

Interest is much broader than just the interest received from savings and investments. Interest can refer to the value in money's worth rather than money itself

For example where a client has their rent being paid for by their parents or their ex-partner, they don't get the rent money as this is paid directly to the landlord. They get the value in money's worth of an acquired interest which would be considered as free rent

• payments, capital payments or the value of credits or services received periodically that are made and used for an income-related purpose
• the value of goods, services, transport or accommodation supplied on a regular basis. For example, free board, free rent, an income-related insurance payment

Information share Child Support payments have a specific income definition. This definition is narrower than the description above.

For more information see:

Although some forms of income are not taxed they are still considered to be income.

Whether income is taxed or not, it can still be considered as income e.g. a tax-exempt pension from a superannuation fund paid as a 'tax free' payment is considered chargeable income.