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INCOME TAX ASSESSMENT ACT 1997 - SECT 83.80 Taxation of unused long service leave payments

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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