Document ID: chunk:federal_register_of_legislation:C2024C00866:section:46ab
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 46AB
Character Range: 661664–663319

46AB  Meaning of employment income
 (1) For the purposes of section 46AA, employment income, in relation to a person, is ordinary income of the person:
 (a) that is for remunerative work of the person as an employee in an employer/employee relationship; and
 (b) that includes, but is not limited to:
 (i) salary, wages, commissions and employment‑related fringe benefits; and
 (ii) if the person is engaged on a continuing basis in that employer/employee relationship—a leave payment to the person;
but does not include:
 (c) a superannuation payment to the person; or
 (d) a payment of compensation, or a payment to the person under an insurance scheme, in relation to the person's inability to earn, derive or receive income from that remunerative work; or
 (e) if the person is not engaged on a continuing basis in that employer/employee relationship—a leave payment to the person; or
 (f) a payment to the person by a former employer of the person in relation to the termination of the person's employment; or
 (g) a comparable foreign pension; or
 (h) an instalment of parental leave pay.
 (2) For the purposes of subsection (1), a leave payment:
 (a) includes a payment in respect of personal/carer's leave, annual leave, maternity leave or long service leave; and
 (b) may be made as a lump sum payment, a payment that is one of a series of regular payments or otherwise; and
 (c) is taken to be made to a person if it is made to another person:
 (i) at the direction of the person or of a court; or
 (ii) on behalf of the person; or
 (iii) for the benefit of the person; or
 (iv) if the person waives or assigns his or her right to the payment.