Income Tax (Trading and Other Income) Act 2005 section 783BC

The individual's "relevant property income"

Section 783BC defines what counts as an individual's "relevant property income" for the purposes of the property income allowance provisions.

• An individual's "relevant property income" is the measure used to determine eligibility for relief under this chapter
• It is calculated by reference to the total relievable receipts from the individual's relevant property businesses
• The calculation is specific to a particular tax year — both the receipts and the property businesses must relate to the same tax year
• Only receipts from businesses that qualify as "relevant property businesses" are included in the definition