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Edited version of your written advice
Authorisation Number: 1051479109766
Date of advice: 23 February 2019
Ruling
Subject: Assessable Income
Question
Will the amounts or any portion thereof to be paid pursuant to sections 32 and 42 of the Workers Rehabilitation and Compensation Act 1986 (SA) (WRCA), be included in your assessable income?
Answer
No.
This ruling applies for the following period:
Year ended 30 June 2019.
The scheme commences on:
1 July 2018.
Relevant facts and circumstances
This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling.
You sustained compensable disabilities said to have arisen from your employment.
You will receive a redemption offer pursuant to either or sections 32 and 42 of the Workers Rehabilitation and Compensation Act 1986 (SA) (WRCA).
As part of the agreement you have to resign.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 6-5
Income Tax Assessment Act 1997 Section 15-30
Income Tax Assessment Act 1997 Section 118-37