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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 83 - Other payments on termination of employment    View history reference

Subdivision 83-A - Unused annual leave payments    View history reference

Operative provisions

SECTION 83-15  

83-15  Entitlement to tax offset  

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You are entitled to a *tax offset to ensure that the rate of tax on an *unused annual leave payment does not exceed 30%, to the extent that:


(a) the payment was made in connection with a payment that includes, or consists of, any of the following:


(i) a *genuine redundancy payment;

(ii) an *early retirement scheme payment;

(iii) the *invalidity segment of an *employment termination payment or *superannuation benefit; or


(b) the payment was made in respect of employment before 18 August 1993.


 



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