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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-40 - RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS    View history reference

Division 82 - Employment termination payments    View history reference

Subdivision 82-C - Key concepts    View history reference

Operative provisions

SECTION 82-160  

82-160  What is the ETP cap amount?  

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The ETP cap amount for the 2007-2008 income year is $140,000. This amount is indexed annually.

Note 1:

Subdivision 960-M shows how to index amounts. However, annual indexation does not necessarily increase the ETP cap amount: see section 960-285.

Note 2:

The ETP cap amount may be reduced for the purpose of working out tax offsets for individual employment termination payments.

[CCH Note: The indexed ETP cap amounts are:
2008/09$145,000
2009/10$150,000
2010/11$160,000
2011/12$165,000
2012/13$175,000
2013/14$180,000
2014/15$185,000
2015/16$195,000
2016/17$195,000
2017/18$200,000]


 



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