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 83-80   Taxation of unused long service leave payments  

Assessable and tax-free parts of unused long service leave payments

83-80(1)  
If you receive an *unused long service leave payment, your assessable income includes the part of the payment shown in this table:


*Unused long service leave payments
Item To the extent the payment is attributable to the ... Your assessable income includes this part of it ...
1 *pre-16/8/78 period 5%
2 *pre-18/8/93 period 100%
3 *post-17/8/93 period 100%

83-80(2)  
The remainder of that part (if any) of an *unused long service leave payment that is attributable to the *pre-16/8/78 period is not assessable income and is not *exempt income.


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