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 82 - Employment termination payments  

Subdivision 82-C - Key concepts  

Operative provisions

SECTION 82-160   82-160   What is the ETP cap amount ?  

The ETP cap amount for the 2007-2008 income year is $140,000. This amount is indexed annually.

Note 1:

Subdivision 960-M shows how to index amounts. However, annual indexation does not necessarily increase the ETP cap amount: see section 960-285 .

Note 2:

The ETP cap amount may be reduced for the purpose of working out tax offsets for individual employment termination payments.