Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Your assessable income includes the value to you of all allowances, gratuities, compensation, benefits, bonuses and premiums * provided to you in respect of, or for or in relation directly or indirectly to, any employment of or services rendered by you (including any service as a member of the Defence Force).
(2) This is so whether the things were * provided in money or in any other form.
(3) However, the value of the following are not included in your assessable income under this section:
(a) a * superannuation lump sum or an * employment termination payment;
(b) an * unused annual leave payment or an * unused long service leave payment;
(c) a * dividend or * non - share dividend;
(d) an amount that is assessable as * ordinary income under section 6 - 5;
(e) * ESS interests to which Subdivision 83A - B or 83A - C (about employee share schemes) applies.
Note: Section 23L of the Income Tax Assessment Act 1936 provides that fringe benefits are non - assessable non - exempt income.