Taxation Determination

TD 92/200W

Income tax: for a lump sum or eligible termination payment rebate under section 159SA of the Income Tax Assessment Act 1936 (ITAA), does 'the rate of tax' for a primary producer refer to the notional rate under subsection 12(2) and subsection 12(3) of the Income Tax Rates Act 1986 (ITR)?

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Notice of Withdrawal

Taxation Determination TD 92/200 is withdrawn with effect from today.

1. TD 92/200 states that under section 159SA of the ITAA, the applicable rate of tax for a lump sum or eligible termination payment rebate for a primary producer is the notional rate under subsection 12(2) and subsection 12(3) of the ITRA.

2. Section 159SA and other relevant provisions referred to in the Taxation Determination have been repealed. TD 92/200 has no ongoing relevance and is withdrawn without replacement.

Commissioner of Taxation
20 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Previously issued as Draft TD 92/D198

References

ATO references:
NO 1-9N72KXS

Subject References:
lump sum payments;
eligible termination payments;
primary producer;
rebates

Legislative References:
ITAA 159SA;
ITAA 159SB;
ITAA 156(4);
ITAA 156(4A);
ITR 12(1);
ITR 12(2);
ITR 12(3)