Announcements
Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
Still not sure? Ask the Community

ATO Community

On receiving a genuine redundancy - treatment of unused leave for Concessional Super

Newbie

Views 501

Replies 1

On receiving a genuine redundancy, can a payout for unused Leave and Long service leave be applied to concessional contribution to supperannuation, when eligible for transition to retirement phase

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @Craig_M 

 

Not unless there was a salary sacrifice arrangement in place whilst the leave was building.

 

The employer will apply schedule 7 to the unused leave and you can then make an after tax contribution.

 

Thanks, Ari

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @Craig_M 

 

Not unless there was a salary sacrifice arrangement in place whilst the leave was building.

 

The employer will apply schedule 7 to the unused leave and you can then make an after tax contribution.

 

Thanks, Ari