61-590
CurrentDefinition of MLS lump sums
Chapter 2Liability rules of general application
Part 2-20Tax offsets
Division 61Generally applicable tax offsets
Subdivision 61-LTax offset for Medicare levy surcharge (lump sum payments in arrears)
61-590 Definition of MLS lump sums
Both of the following are MLS lump sums paid to an individual:
(a)
a lump sum payment of eligible income (within the meaning of section 159ZR of the Income Tax Assessment Act 1936) that is included in the individual’s assessable income for the *current year (but only to the extent that it accrued in an earlier income year);
(b)
a lump sum payment that is included in the individual’s *exempt foreign employment income for the current year (but only to the extent that it accrued during a period ending more than 12 months before the date on which it was paid).
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