A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

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

History

Part 2-40 inserted by No 9 of 2007, s 3 and Sch 2 item 1, applicable on and after 1 July 2007.

Division 83 - Other payments on termination of employment    View history reference

History

Div 83 inserted by No 9 of 2007, s 3 and Sch 2 item 1, applicable on and after 1 July 2007.

Subdivision 83-B - Unused long service leave payments    View history reference

History

Subdiv 83-B inserted by No 9 of 2007, s 3 and Sch 2 item 1, applicable on and after 1 July 2007.

General

SECTION 83-80  Taxation of unused long service leave payments  

 View history reference

Assessable and tax-free parts of unused long service leave payments

83-80(1)  

If you receive an *unused long service leave payment, your assessable income includes the part of the payment shown in this table:
*Unused long service leave payments
ItemTo the extent the payment is attributable to the ...Your assessable income includes this part of it ...
1*pre-16/8/78 period5%
2*pre-18/8/93 period100%
3*post-17/8/93 period100%

83-80(2)  

The remainder of that part (if any) of an *unused long service leave payment that is attributable to the *pre-16/8/78 period is not assessable income and is not *exempt income.

Note 1:

If your employment was wholly full-time or wholly part-time during a period, see sections 83-95, 83-100 and 83-105 to work out the amount of an unused long service leave payment that is attributable to the period.

Note 2:

If your employment was partly full-time and partly part-time during a period, see section 83-110 to work out the amount of an unused long service leave payment that is attributable to the period.

History

S 83-80 inserted by No 9 of 2007, s 3 and Sch 2 item 1, applicable on and after 1 July 2007.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page