INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 1 - General  

SECTION 23AAA   EXEMPTION OF CERTAIN PAYMENTS TO PERSONS FORMERLY EMPLOYED IN PAPUA NEW GUINEA  

23AAA(1)   [Termination moneys not assessable]  

Subject to subsection (2), the assessable income of a taxpayer who was employed under Part II of the Papua New Guinea (Staffing Assistance) Act 1973 and whose employment was terminated under section 13 or 14 of that Act does not include an amount received under section 19 of that Act by way of compensation, contingencies allowance, resettlement grant, fares or removal expenses.

23AAA(2)   [Extent of exclusion]  

Subsection (1) excludes from the assessable income of a taxpayer an amount by way of compensation, contingencies allowance, resettlement grant, fares or removal expenses only to the extent that the amount is of a kind prescribed by the Papua New Guinea (Staffing Assistance) (Termination of Employment) Regulations as in force on 1 December 1973.

23AAA(3)   [Termination of employment before 1 December 1973]  

The assessable income of a taxpayer whose employment in Papua New Guinea was terminated before 1 December 1973 and who, at the time of the termination of that employment -

(a) was an overseas officer within the meaning of the Public Service (Papua and New Guinea) Ordinance 1963 ;

(b) was, by virtue of section 4B of the Superannuation (Papua and New Guinea) Ordinance 1951 , deemed to be an employee within the meaning of section 4 of that Ordinance;

(c) was an overseas member within the meaning of the Royal Papua and New Guinea Constabulary Ordinance 1965 ; or

(d) was an officer of the Papua New Guinea Electricity Commission and was contributing to the Papua New Guinea Superannuation Fund or the Papua New Guinea Provident Account established under the Superannuation (Papua and New Guinea) Ordinance 1951 ,

does not include an amount received by the taxpayer on the termination of that employment if the amount was of a kind referred to in subsection (1).