I received scholarship from my country government, received all the amount in cash. Now, I received some amount from my friends here in AUD and provided them the equivalent amount in exchange in their related country bank accounts? Do I need to declare this as income and pay tax on it?
Hi @jamali1081
If you're an Australian resident for tax purposes you need to declare your worldwide income. So you'd workout if the scholarship is considered income. You can use this tool on our website to do that.
Exchanging money with friends isn't income
Hi @jamali1081
If you're an Australian resident for tax purposes you need to declare your worldwide income. So you'd workout if the scholarship is considered income. You can use this tool on our website to do that.
Exchanging money with friends isn't income
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