INCOME TAX ASSESSMENT ACT 1997 - SECT 82.155 What is a pre - July 83 segment of an employment termination payment?

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INCOME TAX ASSESSMENT ACT 1997 - SECT 82.155

What is a pre - July 83 segment of an employment termination payment?

(1) An * employment termination payment includes a pre - July 83 segment if any of the employment to which the payment relates occurred before 1 July 1983.

(2) Work out the amount of the pre - July 83 segment as follows:

Step 1. Subtract the * invalidity segment (if any) from the * employment termination payment.

Step 2. Multiply the amount at step 1 by the fraction:

$Start formula start fraction Number of days of employment to which the payment relates that occurred before 1 July 1983 over Total number of days of employment to which the payment relates end fraction end formula$

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