Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-20 - TAX OFFSETS  

Division 61 - Generally applicable tax offsets  

Subdivision 61-L - Tax offset for Medicare levy surcharge (lump sum payments in arrears)  

Operative provisions

SECTION 61-590   61-590   Definition of MLS lump sums  

Both of the following are MLS lump sums paid to an individual:

(a) a lump sum payment of eligible income (within the meaning of section 159ZR of the Income Tax Assessment Act 1936 ) that is included in the individual ' s assessable income for the *current year (but only to the extent that it accrued in an earlier income year);

(b) a lump sum payment that is included in the individual ' s *exempt foreign employment income for the current year (but only to the extent that it accrued during a period ending more than 12 months before the date on which it was paid).