@davidhussy There's redundancy calculators online, plug in your numbers. It calculates the tax free threshold based on your years of service as well A/L etc.
@davidhussy I’m pretty sure you are allowed a paid day off a week to look for other jobs in between the time you receive news of the redundancy and your last day, worth looking into.
Most likely won’t get long service, but ask payroll.
@davidhussy All this information is on the ato website, I suggest you have a look. I was made redundant last year and it took me all of 10min to understand what I was entitled to.
@davidhussy Every time I've tried to calculate my redundancy I've always been way off even after googling and looking at the online calculators. Ask payroll for your payout calculations. Might take a while if there is a few of you. Sorry this has happened to you and I hope a new role soon!
@three4rd Interesting. Wth mine, just one admittedly, my calculation for after tax ( there was also LSL and AL) matched what I got from employer within a few dollars. I just followed the ATO rules. If it had been different then I'd have been on to payroll like a shot.
@davidhussy U dont pay tax on the redundancy payout. Not sure abt long service leave. Probably not. Why is the final working day n termination date different?r u taking annual leave?
@davidhussy I doubt tht would b the case. But depending on how long it takes u to find a new job, this FY taxable income could be significantly low for u and might get a good tax return