Is redundancy pay tax free in australia?

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Kristin Wiza asked a question: Is redundancy pay tax free in australia?
Asked By: Kristin Wiza
Date created: Sun, Nov 14, 2021 4:46 AM
Date updated: Sat, Jul 23, 2022 8:25 PM

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Top best answers to the question «Is redundancy pay tax free in australia»

Genuine redundancy and early retirement scheme payments are tax free up to a limit based on the employee's years of service… It's reported as a lump sum in the employee's income statement or PAYG payment summary – individual non-business. Any amount over the tax-free limit is part of the employee's ETP.

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