Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an entity (the payer ) proposes to pay a transitional termination payment to an individual.
(2) The payer must give the individual a statement (a pre - payment statement ) meeting the requirements of this section.
(3) The statement must include the following information:
(a) the amount (if any) that would be the tax free component of the transitional termination payment;
(b) the amount (if any) that would be the taxable component of the transitional termination payment;
(c) any other information specified in the regulations.
(4) The statement must also include details of the opportunity to make a choice in accordance with section 82 - 10F.
Table of sections
82 - 10F Directed termination payments
82 - 10G Directed termination payments not assessable income and not exempt income