Income Tax Assessment Act 1997
You are entitled to a *tax offset to ensure that the rate of tax on an *unused annual leave payment does not exceed 30%, to the extent that:
(a) the payment was made in connection with a payment that includes, or consists of, any of the following:
(i) a *genuine redundancy payment;
(ii) an *early retirement scheme payment;
(iii) the *invalidity segment of an *employment termination payment or *superannuation benefit; or
(b) the payment was made in respect of employment before 18 August 1993.
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