INCOME TAX ASSESSMENT ACT 1997
You are entitled to a *tax offset on an *unused long service leave payment that ensures that the rate of income tax on the amount of the payment mentioned in subsection (2) does not exceed 30%. 83-85(2)
The amount is the part of the *unused long service leave payment included in your assessable income under subsection 83-80(1) :
(a) to the extent that it is attributable to the *pre-18/8/93 period; and
(b) to the extent that it is attributable to the *post-17/8/93 period, if the payment was made in connection with a payment that includes, or consists of, any of the following:
(i) a *genuine redundancy payment; or
(ii) an *early retirement scheme payment; or
(iii) an *invalidity segment of an *employment termination payment or a *superannuation benefit.
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