Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:2_1:p5
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 2 cl 1 (pt 5/11)
Character Range: 280920–283800

termination payment is made to you in your capacity as trustee.

Note: See also subsection 101A(3) of the Income Tax Assessment Act 1936.

Dependants of deceased benefit from payment

 (2) To the extent that 1 or more beneficiaries of the estate who were *death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:
 (a) the payment is treated as if it had been made to you as a person who was a death benefits dependant of the deceased; and
 (b) the payment is taken to be income to which no beneficiary is presently entitled.

Note: Section 82‑65 deals with the taxation of employment termination payments made to persons who are death benefits dependants of deceased persons.

Non‑dependants of deceased benefit from payment

 (3) To the extent that 1 or more beneficiaries of the estate who were not *death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:
 (a) the payment is treated as if it had been made to you as a person who was not a death benefits dependant of the deceased; and
 (b) the payment is taken to be income to which no beneficiary is presently entitled.

Note: Section 82‑70 deals with the taxation of employment termination payments made to persons who are not death benefits dependants of deceased persons.

Subdivision 82‑C—Key concepts

Guide to Subdivision 82‑C

82‑125  What this Subdivision is about

      This Subdivision defines an employment termination payment as a payment made in consequence of the termination of a person's employment that is received no later than 12 months after the termination (though the 12 month restriction is relaxed in some circumstances).
      An employment termination payment can be a life benefit termination payment (received by the person whose employment is terminated) or a death benefit termination payment (received by another person after the death of a person whose employment is terminated).
      Certain types of payments are declared not to be employment termination payments.
      Various other terms used in describing the taxation treatment of employment termination payments are defined in the Subdivision.

Table of sections

Operative provisions

82‑130 What is an employment termination payment?
82‑135 Payments that are not employment termination payments
82‑140 Tax free component of an employment termination payment
82‑145 Taxable component of an employment termination payment
82‑150 What is an invalidity segment of an employment termination payment?
82‑155 What is a pre‑July 83 segment of an employment termination payment?
82‑160 What is the ETP cap amount?

Operative provisions

82‑130  What is an employment termination payment?

 (1) A payment is an employment termination payment if:
 (a) it is received by you:
 (i) in consequence of the termination of your employment; or