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Rewards through referral programs

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Newbie

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Hi all,
Rewards paid in referral programs or for opening bank accounts are considered income (for people, not businesses)? If it is, what category is it?
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Community Support

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Hi @AngelicaC 

 

I wasnt quite sure what you were asking. However, if your query is related to receiving a prize or benefit offered by a bank through an investment related lottery, such as cash, low-interest or interest-free loans or maybe even holidays or a car then for an individual, they all should be included as category 1 income at question 24 on the tax return. See 24 Other income 2020 for more information.

1 REPLY 1
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Most helpful response

Community Support

Replies 0

Hi @AngelicaC 

 

I wasnt quite sure what you were asking. However, if your query is related to receiving a prize or benefit offered by a bank through an investment related lottery, such as cash, low-interest or interest-free loans or maybe even holidays or a car then for an individual, they all should be included as category 1 income at question 24 on the tax return. See 24 Other income 2020 for more information.