[ CCH Note 1: The Commissioner has made " Employment Termination Payments Redundancy Trusts (12 month rule) Determination 2009 " , effective 13 March 2009, which reads:

3. Application  
This determination applies to a payment received after 30 June 2007 by a person if the payment is received from a redundancy trust:

(a) either

(i) in consequence of the termination of that person ' s employment, or

(ii) after another person ' s death, in consequence of the termination of that other person ' s employment; and

(b) more than 12 months after that termination; and

(c) is not a payment under section 82-135 of the Income Tax Assessment Act 1997 . In this determination, such a payment is called a late termination payment .

4. Determination  
Paragraph 82-130(1)(b) of the Income Tax Assessment Act 1997 does not apply to a late termination payment if:

(a) the person whose employment was terminated was a member of a redundancy trust and an application for the payment was lodged with the trustee of the redundancy trust within 12 months of the person becoming entitled to the payment under the terms of the trust deed of the redundancy trust; and

(b) the payment was made by the trustee of the redundancy trust:

(i) as soon as practicable after receipt of the application for payment; or

(ii) no later than 2 years after the termination of the person's employment that led to the entitlement;

whichever occurs earlier; or

(c) immediately before 1 July 2007 the member of the redundancy trust had an existing entitlement to a payment from the redundancy trust as a consequence of a termination of employment of the person before 1 July 2007 and the payment of the benefit was made by the trustee of the redundancy trust prior to 1 July 2010.

5. Definitions  
In this Determination:

'redundancy trust'
means:

(a) a workers entitlement fund that was established prior to 1 April 2003; or

(b) is a prescribed workers entitlement fund listed in Schedule 3 to the Fringe Benefits Tax Regulations 1992.

'member of a redundancy trust'
means a person who is entitled to a payment/s under the terms of the redundancy trust ' s deed due to termination of employment.

[ CCH Note 2: The Commissioner has made " Employment Termination Payments (12 month rule) Legislative Instrument 2007 " , effective 16 November 2007, which reads:

3. Application  

This determination applies to a payment received after 30 June 2007 by a person if the payment is received:

(a) either

i) in consequence of the termination of that person ' s employment, or

ii) after another person ' s death, in consequence of the termination of that other person ' s employment; and

(b) more than 12 months after that termination; and

(c) is not a payment under section 82-135 of the Income Tax Assessment Act 1997 .

In this determination, such a payment is called a late termination payment .

4. Determination  

Paragraph 82-130(1)(b) of the Income Tax Assessment Act 1997 does not apply to a late termination payment if the payment is received more than 12 months after the termination of a person ' s employment because:

(a) legal action was commenced within 12 months of the termination of employment, of which the subject is either or both:

i) the person ' s entitlement to the payment;

ii) the amount of the person ' s entitlement; or

(b) the payment was made by a liquidator, receiver or trustee in bankruptcy of an entity that is otherwise liable to make the payment, where that liquidator, receiver or trustee is appointed no later than 12 months after the termination of employment.

5. Definitions  

In this Determination:

'liquidator'
means a person who becomes a liquidator of a company and who has given the Commissioner of Taxation notice of that fact under subsection 260-45(2) of Schedule 1 to the Taxation Administration Act 1953 .

'receiver'
means a person who, in the capacity of receiver, or of receiver and manager, takes possession of a company ' s assets for the company ' s debenture holders and who has given the Commissioner of Taxation notice of that fact under subsection 260-75(2) of Schedule 1 to the Taxation Administration Act 1953 .

'trustee in bankruptcy'
means a person who, in the capacity of ' the trustee ' as defined in section 5 of the Bankruptcy Act 1966 , notifies the Commissioner of Taxation of the bankruptcy.