INCOME TAX ASSESSMENT ACT 1997
This section applies to leave ( annual leave ) of the following types (whether it is made available as an entitlement or as a privilege):
(a) leave ordinarily known as annual leave, including recreational leave and annual holidays;
(b) any other leave made available in circumstances similar to those in which the leave mentioned in paragraph (a) is ordinarily made available. Unused annual leave payments 83-10(2)
Your assessable income includes an *unused annual leave payment that you receive. 83-10(3)
A payment that you receive in consequence of the termination of your employment is an unused annual leave payment if:
(a) it is for annual leave you have not used; or
(b) it is a bonus or other additional payment for annual leave you have not used; or
(c) it is for annual leave, or is a bonus or other additional payment for annual leave, to which you were not entitled just before the employment termination, but that would have been made available to you at a later time if it were not for the employment termination.
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