Checklist - How to calculate the taxation of a genuine redundancy payment
Complete this checklist to calculate the taxable amount of a genuine redundancy payment. Genuine redundancy payments are tax-free up to a limit, based upon the employee's years of service with your business.
Understanding your obligations as an employer is important. If you are experiencing difficulty with managing staff, please call CCIQ Employer Assistance team (members), or join with a CCIQ membership https://www.cciq.com.au/membership/.