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I left my employment on 15 March 2011. My employer did not work out my entitlements to bonus and commission and did not pay them to me until 30 April 2011. Are these receipts taxable, and if they are, in which year of assessment should they be included as my assessable income?

I left my employment on 15 March 2011. My employer did not work out my entitlements to bonus and commission and did not pay them to me until 30 April 2011. Are these receipts taxable, and if they are, in which year of assessment should they be included as my assessable income?

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Jameson
 

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Yes, they are taxable. Although these bonus and commission were paid to you in year of assessment 2011/12, they are regarded as income for the last day of your employment (15 March 2011) and are your assessable income for the year of assessment 2010/11.

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JK
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