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Delays to response times: It is taking longer than usual to answer calls and myIR messages, and to process some COVID-19 Support Payment applications. This is because of the impact of COVID-19. If possible, please contact us through your myIR account. Log in to myIR

Budget 2022: The Government has announced Budget 2022, which includes changes to child support payments. Find out more on our Tax Policy website

Budget 2022: The Government has announced a Cost of Living Payment, which will be paid from 1 August 2022. You do not need to apply for this payment. If you are eligible, we’ll pay it into your bank account. Find out more

What income does this include?

Commonly this includes income from:

  • self-employment
  • rental property including Airbnb and Bookabach
  • overseas
  • shareholder salary
  • directors’ fees
  • 'under the table' cash jobs
  • tips from customers 
  • royalties
  • a taxable property sale
  • an estate, trust or partnership.
  • wage subsidy

School students who earn less than $2,340 in a tax year from self-employment do not pay tax on that money.

Rental income and paying tax

Types of business income

Telling us about income

If you receive more than $200 in income with no tax deducted, you'll need to tell us. You do that on an individual tax return - IR3.

The IR3 is used at the end of the tax year to:

  • tell us about all your taxable income
  • claim expenses, such as costs for operating your business or maintaining your rental property
  • calculate your tax assessment so you know how much tax to pay or refund to expect.

Individual tax return - IR3

Last updated: 30 Mar 2021
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