Income Tax Service Update: Veterans Entitlements Amendments included

The Veterans Entitlements Amendment Act 2011 (No 95) amended the tax laws in relation to the 

• Creation of a Prisoner of War Recognition Supplement;

• clarification and affirmation of the original intention of the compensation offsetting policy in relation to disability pensions; and

• rationalisation of temporary incapacity allowance and loss of earnings allowance.

The amendments are current to 19 September 2011 and are now updated in the Point-in-Time Income Tax Service (NB: Subscription required).

Not only is this legislation but much more is included for subscribers in the Point-in-Time Income Tax service. If you are not already a subscriber to this Australian Legislation then please contact us to find out more or to take a free trial.