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INCOME TAX ASSESSMENT ACT 1997 - SECT 83.80

Taxation of unused long service leave payments

Assessable and tax-free parts of unused long service leave payments

             (1)  If you receive an * unused long service leave payment, your assessable income includes the part of the payment shown in this table:

 

* Unused long service leave payments

Item

To the extent the payment is attributable to the ...

Your assessable income includes this part of it ...

1

* pre-16/8/78 period

5%

2

* pre-18/8/93 period

100%

3

* post-17/8/93 period

100%

             (2)  The remainder of that part (if any) of an * unused long service leave payment that is attributable to the * pre-16/8/78 period is not assessable income and is not * exempt income.

Note 1:       If your employment was wholly full-time or wholly part-time during a period, see sections 83- 95, 83-100 and 83- 105 to work out the amount of an unused long service leave payment that is attributable to the period.

Note 2:       If your employment was partly full-time and partly part-time during a period, see section 83-110 to work out the amount of an unused long service leave payment that is attributable to the period.



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