INCOME TAX ASSESSMENT ACT 1997 - SECT 82.160 What is the ETP cap amount ?

INCOME TAX ASSESSMENT ACT 1997 - SECT 82.160

    The ETP cap amount for the 2007 - 2008 income year is $140,000. This amount is indexed annually.

Note 1:   Subdivision   960 - M shows how to index amounts. However, annual indexation does not necessarily increase the ETP cap amount: see section   960 - 285.

Note 2:   The ETP cap amount may be reduced for the purpose of working out tax offsets for individual employment termination payments.

Table of Subdivisions

  Guide to Division   83

83 - A   Unused annual leave payments

83 - B   Unused long service leave payments

83 - C   Genuine redundancy payments and early retirement scheme payments

83 - D   Foreign termination payments

83 - E   Other payments