by Marketing | Mar 13, 2014 | Employment, Income Tax - Individuals, Redundancy Payments
NOTE – These rules do not apply to Genuine Redundancy Payments. On 1 July 2012, the concessional tax treatment for ETPs changed. From that date there is an additional $180,000 non-indexed whole-of-income cap. This cap will apply with the existing ETP cap rules on some...
by Marketing | Mar 13, 2014 | Employment, Income Tax - Individuals, Redundancy Payments
Tax on ETP amounts can vary based on “Preservation Age”. ETP’s are also subject to caps – see this post. Preservation in the context of Eligible Termination Payments (ETP’s) determines the tax applicable to the payment. Preservation age is determined using...
by Marketing | Mar 13, 2014 | Employment, Income Tax - Individuals, Redundancy Payments
A genuine redundancy payment is a payment you receive because the job you were doing is abolished. That is, your employer has made a decision that the job you are doing no longer exists and your employment is to be terminated. A genuine redundancy has special tax...
by Marketing | Mar 13, 2014 | Employment, Income Tax - Individuals, Redundancy Payments
A genuine redundancy payment is a payment you receive because the job you were doing is abolished. That is, your employer has made a decision that the job you are doing no longer exists and your employment is to be terminated. A genuine redundancy has special tax...
