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Have you been offered a voluntary redundancy? Are you in a position to negotiate termination with your employer?If so, consider that the transitional rules for employer termination payments (ETPs) are set to end on 30 June 2012. This will have a marked impact on how much tax you will pay on benefits after 1 July and you will no longer be able to direct part of the ETP into super.If you are in a position to take bona fide redundancy or early retirement, contact us today to discuss the implications of these rule changes.
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Responsibility for the content and opinions expressed herein rests solely with the author and opinions expressed do not necessarily represent the views and opinions of Professional Wealth Services Pty Ltd. The information on this website is general in nature and may not be relevant to your individual circumstances. You should refrain from doing anything in reliance on this information without first obtaining suitable professional advice. You should obtain and consider a Product Disclosure Statement (PDS) before making any decision to acquire a product. This information is for Australian residents only. Whilst care has been exercised, the taxation information contained is provided as a guide only and may not be relied upon. If in doubt, you should seek independent tax advice from a qualified tax adviser.
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