Back payment of leave on redundancy

[#1]

Hello there, I was made redundant a few years ago and have recently been notified by my employer that the payout of my leave was understated and that I'll be receiving an additional amount. Will this be taxed at the concessional redundancy rates? Or marginal given it was a few years ago? Thank-you!

[#2 · Accepted solution]

Hi @rxqueen60,

Thanks for your question.

Where a genuine redundancy applies the rate of withholding will be 32% of the total amount, disregarding cents. This applies to both Annual leave and Leave loading.

Further information regarding withholding from Annual leave

• Genuine redundancy, invalidity or an early retirement scheme
• Leaving employment for other reasons

Thanks and I hope this helps,

JasonT