Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 82.10E

Transitional termination payments--pre-payment statements

             (1)  This section applies if an entity (the payer ) proposes to pay a transitional termination payment to an individual.

             (2)  The payer must give the individual a statement (a pre-payment statement ) meeting the requirements of this section.

             (3)  The statement must include the following information:

                     (a)  the amount (if any) that would be the tax free component of the transitional termination payment;

                     (b)  the amount (if any) that would be the taxable component of the transitional termination payment;

                     (c)  any other information specified in the regulations.

             (4)  The statement must also include details of the opportunity to make a choice in accordance with section 82-10F.

Table of sections

82-10F      Directed termination payments

82-10G     Directed termination payments not assessable income and not exempt income



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