| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of your written advice
Authorisation Number: 1051309524884
Date of advice: 17 November 2017
Ruling
Subject: Employment Termination Payment
In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided.
The ruling concerned the following and The Commissioner has ruled that:
Question 1
Is the payment made by your former Employer to you under the terms of the ‘Terms of Settlement’ document, an employment termination payment for the purposes of section 82-130 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes.
Question 2
Can you claim your medical expenses as a deduction under section 8-1 of the ITAA 1997?
Answer
No.
Question 3
Can you claim your medical expenses as an offset under the Net Medical Expense Tax Offset under subsection 159P(1) of the Income Tax Assessment Act 1936 (ITAA 1936)?
Answer
No.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
