Assessability of Lump Sum Payments on Occasion of Retirement

In Commissioner of Inland Revenue v Smythe [1981] 1 NZLR 673 the Court of Appeal considered whether a lump sum payment provided in lieu of long service leave that had not been taken could be described as a bonus. Section 68 of the Income Tax Act 1976 provides concessional tax treatment for bonuses on retirement. The court held that the payment was a bonus regardless of the fact that the sum was paid pursuant to a contractual obligation

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Year of publication:	2015
Authors:	Prebble KC, John
Publisher:	[S.l.] : SSRN
Subject:	Altersgrenze \| Retirement \| Theorie \| Theory \| Zahlungsverkehr \| Payment transactions \| Flexible Altersgrenze \| Flexible retirement

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Extent:	1 Online-Ressource (4 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Recent Law, pp. 276-277, 1981
Classification:	K34 - Tax Law
Source:	ECONIS - Online Catalogue of the ZBW

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