[1237] Tax-free bona fide redundancy payment: ATO Decision Impact Statement.

Australasian Business Intelligence, July, 2007

Byline: Lisa Mak

Jul 09, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office (ATO) has published a Decision Impact Statement in relation to the decision in "Long and FCT [2007] AATA 1269". The case concerned the question of whether an eligible termination payment is a bona fide redundancy payment where the person terminated is both employee and director of the employer. The ATO states in the Decision Impact Statement that the outcome in this case is limited to the facts found by the Administrative Appeals Tribunal. In matters that differ factually from those in "Long and FCT", the Commissioner will apply the law as reflected in the general principles set out in TR 94/12.

Publication Date: 29 June 2007

AUSTRALIAN...

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