Commonwealth Consolidated Acts Commonwealth Consolidated ActsAssessable 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:
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.