Hi, after working for the same company for 20 years, there is an involuntary redundancy opportunity for me, just wondering how it is taxed and if it's worth a try?
Any advice will be really appreciated.
Thanks for your time.
Hiya Weilan 👋
Termination payments are particularly complex, but the ATO has great guidance that explains all the factors that determine how the redundancy is taxed (genuine redundancy, no difference between voluntary and involuntary from a tax perspective).
Factors include your age.
Deanne
Hiya Weilan 👋
Termination payments are particularly complex, but the ATO has great guidance that explains all the factors that determine how the redundancy is taxed (genuine redundancy, no difference between voluntary and involuntary from a tax perspective).
Factors include your age.
Deanne
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