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  

Division 83 - Other payments on termination of employment  

Subdivision 83-B - Unused long service leave payments  

General

SECTION 83-85   Entitlement to tax offset  

83-85(1)    
You are entitled to a * tax offset on an * unused long service leave payment that ensures that the rate of income tax on the amount of the payment mentioned in subsection (2) does not exceed 30 % .

83-85(2)    
The amount is the part of the * unused long service leave payment included in your assessable income under subsection 83-80(1) :

(a) to the extent that it is attributable to the * pre-18 / 8 / 93 period; and

(b) to the extent that it is attributable to the * post-17 / 8 / 93 period, if the payment was made in connection with a payment that includes, or consists of, any of the following:

(i) a * genuine redundancy payment; or

(ii) an * early retirement scheme payment; or

(iii) an * invalidity segment of an * employment termination payment or a * superannuation benefit.