Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-40
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RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS
Division 83
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Other payments on termination of employment
Subdivision 83-C
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Genuine redundancy payments and early retirement scheme payments
Guide to Subdivision 83-C
SECTION 83-165 What this Subdivision is about
View history note
Hide history noteSECTION 83-165 What this Subdivision is about
This Subdivision defines what are genuine redundancy payments and early retirement scheme payments.
If you receive a genuine redundancy payment or an early retirement scheme payment, you do not have to pay income tax on the payment so far as it does not exceed a certain amount worked out under this Subdivision.
A part of a genuine redundancy payment or an early retirement scheme payment that is not tax free under this Subdivision will normally be an employment termination payment.
| Operative provisions | |
| 83-170 | Tax-free treatment of genuine redundancy payments and early retirement scheme payments |
| 83-175 | What is a genuine redundancy payment ? |
| 83-180 | What is an early retirement scheme payment ? |
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