s 159ZRA
In forceEligibility for rebate
Volume 3Part III, Division 10E to Part VA, Division 8 (sections 124ZM to 204)
Part IIILiability to taxation
Division 17Rebates
Subdivision ABLump sum payments in arrears
159ZRA Eligibility for rebate
(1)
Where:
(a)
the assessable income of the taxpayer of a year of income (in this Subdivision called the current year) includes one or more eligible lump sums; and
(b)
the total arrears amount is not less than 10% of the amount (if any) remaining after deducting that total arrears amount from the normal taxable income of the current year;
the taxpayer is entitled to a rebate of tax, in the taxpayer’s assessment for the current year, of the amount (if any) calculated in accordance with this Subdivision.
(2)
The rebate is only available to a natural person (otherwise than in the capacity of a trustee).
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