This follows changes to Section 46B of the Income Tax Act and Rates Act in regards to Long Service Leave Paid on Termination.
In the 2018 Budget, changes were made to Section 46B of the Income Tax Act and the Rates Act in order to rationalise the treatment of certain payments made to employees on termination of employment.
From 1 January 2018, certain payments of long service leave, made upon termination of employment, attract concessional rates of salary or wages tax.
