INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

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

Division 82 - Pre-10 May 2006 entitlements to life benefit termination payments  

Subdivision 82-C - Pre-payment statements  

SECTION 82-10E   Transitional termination payments - pre-payment statements  

82-10E(1)  
This section applies if an entity (the payer ) proposes to pay a transitional termination payment to an individual.

82-10E(2)  
The payer must give the individual a statement (a pre-payment statement ) meeting the requirements of this section.

82-10E(3)  
The statement must include the following information:


(a) the amount (if any) that would be the tax free component of the transitional termination payment;


(b) the amount (if any) that would be the taxable component of the transitional termination payment;


(c) any other information specified in the regulations.

82-10E(4)  
The statement must also include details of the opportunity to make a choice in accordance with section 82-10F .




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