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on 16 April 2019 11:49 AM - last edited on 17 April 2019 03:49 PM by JodieH
Views 643
Replies 1
Most helpful response
ATO Certified Response
on 17 April 2019 03:49 PM
Replies 0
Hi @sarahjane231153,
Welcome to our Community!
There are a number of factors to consider when working out how much tax is to be withheld from a redundancy or ETP payment and we don't know all the details to be able to provide a definite answer.
If you're receiving an ETP because of a genuine redundancy and early retirement, payments are tax free up to a limit based on the employee's years of service. The ETP cap amount for the 2018–19 income year is $205,000 and is indexed annually.
If you have more information about your ETP payment, you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to discuss in more detail with an operator.
Thanks, JodieH.
Most helpful response
ATO Certified Response
on 17 April 2019 03:49 PM
Replies 0
Hi @sarahjane231153,
Welcome to our Community!
There are a number of factors to consider when working out how much tax is to be withheld from a redundancy or ETP payment and we don't know all the details to be able to provide a definite answer.
If you're receiving an ETP because of a genuine redundancy and early retirement, payments are tax free up to a limit based on the employee's years of service. The ETP cap amount for the 2018–19 income year is $205,000 and is indexed annually.
If you have more information about your ETP payment, you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to discuss in more detail with an operator.
Thanks, JodieH.
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