Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 83.10

Application--annual leave

  (1)   This section applies to leave ( annual leave ) of the following types (whether it is made available as an entitlement or as a privilege):

  (a)   leave ordinarily known as annual leave, including recreational leave and annual holidays;

  (b)   any other leave made available in circumstances similar to those in which the leave mentioned in paragraph   (a) is ordinarily made available.

Unused annual leave payments

  (2)   Your assessable income includes an * unused annual leave payment that you receive.

  (3)   A payment that you receive in consequence of the termination of your employment is an unused annual leave payment if:

  (a)   it is for annual leave you have not used; or

  (b)   it is a bonus or other additional payment for annual leave you have not used; or

  (c)   it is for annual leave, or is a bonus or other additional payment for annual leave, to which you were not entitled just before the employment termination, but that would have been made available to you at a later time if it were not for the employment termination.