Private ruling: Assessable Income
Date of advice: 23 February 2019
Published: May 2019
Ruling period: Year ended 30 June 2019.
Date scheme commenced: 1 July 2018.

Ruling: Q1: Will the amounts or any portion thereof to be paid pursuant to sections 32 and 42 of the Workers Rehabilitation and Compensation Act 1986 (SA) (WRCA), be included in your assessable income? | A1: No.

Relevant facts and circumstances: This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling. You sustained compensable disabilities said to have arisen from your employment. You will receive a redemption offer pursuant to either or sections 32 and 42 of the Workers Rehabilitation and Compensation Act 1986 (SA) (WRCA). As part of the agreement you have to resign.

Relevant legislative provisions: Income Tax Assessment Act 1997 Section 6-5 | Income Tax Assessment Act 1997 Section 15-30 | Income Tax Assessment Act 1997 Section 118-37