This includes authors of literary, dramatic, musical, or artistic works, inventors, performing artists, production associates, or active sportspersons. Special professionals may be entitled to a concessional rate of tax if their taxable professional income, when added to other income, moves them into a higher tax bracket.
To qualify for this concession in the 2023–24 income year, the individual must:
- Be an Australian resident.
- Be classified as a special professional.
- Have taxable professional income exceeding $2,500 in the first year that this concession applies.
Special professionals must include their taxable professional income in their tax return, and they may be eligible for income averaging, which allows them to spread their income over several years to potentially reduce the tax burden.
Activate "Other Income" via manage section
Note: Not all amounts can be written to Special Professional Income. ATO instructions
If the income amount 41050 (or part of this) is presented in one of these fields (marked with yellow above) then it cannot be calculated for Special professional income. If it's not presented - then you should write it to field "Income not included elsewhere on this return", so then you will see the amount on Special professional income