The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.I.40 Income, income amount

Usage

These definitions apply to all payments.

Definition: income

Income generally means:

an income amount earned, derived or received by the person for the person's own use or benefit
a periodical payment by way of gift or allowance, or
a periodical benefit by way of gift or allowance

but does not include an amount that is excluded under SSAct subsection 8(4), (5) or (8).

Ordinary income means gross income, without any reduction, other than a deduction from business income under SSAct Division 1A.

Act reference: SSAct section 8(1)-'income', section 1072 General meaning of ordinary income

Policy reference: SS Guide 4.7 Business Structures, Primary Production & pre-01/01/2002 Assessment of Trusts & Private Companies

Definition: income amount

An income amount generally means:

valuable consideration
personal earnings
moneys, or
profits.

Act reference: SSAct section 8(1)-'income amount'

Last reviewed: 21 March 2022

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