Document ID: chunk:federal_register_of_legislation:C2004A00952:clause:1_27ga
Version: federal_register_of_legislation:C2004A00952
Segment Type: clause
Provision Reference: sch 1 cl 27GA
Character Range: 4170–5186

27GA  Departing Australia superannuation payment

 (1) A person who receives a departing Australia superannuation payment is liable to pay income tax upon that payment at the rate declared by the Parliament in respect of departing Australia superannuation payments.

Note: See the Taxation Administration Act 1953 for provisions dealing with the payment of the tax.

 (2) Income tax payable by a person in accordance with this section is in addition to any other income tax payable by the person upon income other than departing Australia superannuation payments.

 (3) A departing Australia superannuation payment is not to be included in the assessable income of a person.

 (4) If an amount would be a departing Australia superannuation payment apart from the fact that the person has not received it, it becomes a departing Australia superannuation payment to the person as soon as it is applied or dealt with in any way on the person's behalf or as the person directs.

Part 2—Income Tax Assessment Act 1997