3. Application3. Application

3. Application

This determination applies to a payment received, after the date that this instrument is registered on the Federal Register of Legislation, 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.