Money Doesn’t Come Without Guidance ...
Exempt income is a non-taxable income. However, we might take into consideration the deductable tax losses of our previous income years along with the adjustable taxable income of our dependants. It might incorporate: Australian Government pensions, allowances and payments, education payments; overseas pay and allowances for Australian Defence Force and Federal Police personnel; and some scholarships, bursaries, grants and awards.
For a foreign employment to be exempt, it needs to have the following criteria:
The exempt income list consists of the following organisations: