WebTax. A concessionary tax rate is a lower than usual rate, in respect of qualifying activities. Qualifying treasury income "Hong Kong has... a concessionary tax rate of 8.25% on … WebAug 18, 1993 · Long service leave accrued since 18 August 1993 is taxed at marginal tax rates, i.e. included in ordinary income subject to the normal tax scale. Leave is specifically excluded from the concessionally taxed ETP rules, however certain payments attract tax concessions. Amounts accrued before 18 August 1993 have tax limited by offset to a …
Tax Rates on Eligible Termination Payments (ETP
You should use this schedule if you pay an individual an amount that is either: 1. an employment termination payment (ETP) 2. a delayed termination payment – that is, a payment that would be an ETP but was paid more than 12 months after the relevant termination of employment. If you employ individuals under a … See more An ETP is a lump sum payment you make: 1. to an employee when their employment is terminated (referred to as a 'Life benefit' ETP) 2. to an employee’s estate because their employment has been terminated due to death … See more ETPs can have two different components: 1. a tax-free component 2. a taxable component. You only withhold tax from the taxable component. Depending on the type of ETP, the concessional tax treatment may be … See more WebConcessional/Pre-July 83 component: 5% of this amount is included in your assessable income and taxed at normal rates. Post-June 94 invalidity component: Not taxed and not included in your assessable income. Untaxed/taxed Post-June 83 component: The whole of this amount is included in your assessable income. richard james estate agents northampton
2024-18 Lodgment rates and thresholds guide
Webchanged. Depending on the type of ETP, the concessional tax treatment is limited to the smaller of the ETP cap and the whole-of-income cap. Amounts paid in excess of these caps are taxed at the highest marginal rate (plus medicare levy). The ETP cap amount for the 2013–14 income year is $180,000. This amount is indexed annually. WebTax Rates for Motor Vehicle and Diesel Fuels. Rates in Effect from July 1, 2024, through June 30, 2024. Sales and Use Tax Rates. Type of Fuel; Prepayment Per Gallon; Sales … WebThe type R payment will be subject to the ETP cap – this is NOT reduced by the other ETPs in the pay run. In the next pay run, Patti is paid another instalment, receiving an ETP type R of $140,000. The ETP cap will now be reduced to take into account that the concessional rate has already been applied to the previous ETPs. red line rapid cleveland