Income Tax Assessment Act 1997
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Hide history noteSECTION 52-133 52-133 Tax-free amount of ordinary payment on death of partner if no bereavement payment payable
This is how to work out the tax-free amount of an *ordinary payment for the purposes of subsection 52-131(4) : Method statement
Step 1.
Work out the *supplementary amount of the payment.
Note:
The supplementary amount is also exempt and is worked out under section 52-132 .
Step 2.
Subtract the *supplementary amount from the amount of the payment.
Step 3.
Work out what would have been the amount of the payment if your partner had not died.
Step 4.
Work out what would have been the *supplementary amount of the payment if your partner had not died.
Step 5.
Subtract the amount at Step 4 from the amount at Step 3.
Step 6.
Subtract the amount at Step 5 from the amount at Step 2: the result is the tax-free amount .
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