Flood levy - employment termination payments and super payments

The flood levy may apply to ETPs and super benefits

The levy will also apply to employment termination payments (ETPs) and certain super benefits paid to you if they are included in your taxable income. The following tables will help you work out which payments the flood levy applies to, and the percentage of that payment that is included:

• super lump sums
• ETP
• super income streams (taxed element)
• super income streams (untaxed element).

If you receive an assessable lump sum payment in 2011-12, the flood levy may apply to the payment if your taxable income (including the lump sum payment) exceeds $50,000.