Redundancy Payments / Capital
Bone Fide redundancy payments receive a special tax treatment. They are concessionally taxed. If you require advice on what this tax treatment is our tax accountants can provide written advice on how these will be taxed, using your specific redundancy payout and your financial circumstances that are relevant. You can contact us and we can refer you to one of our tax principals accordingly.
The Redundancy Payment / Capital Advisory Service that we provide as Financial & Investment Advisers is where we can include technical tax advice from our tax accounting service and we can advise you in respect of your related issues when made redundant, such as:
- What should I do about my superannuation - should I continue with the approach that my employer was paying into?
- If I have I been offerred a Superannuation Contribution that I can elect as part of my redundancy, if so should I take this or take a payment in cash?
- What about my life insurance benefits taht I had in place - are these still relevant and appropriate / needed?
- With my new employer - should I continue salary sacrificing arrangements as per the approach I had with my last employer (it depends on your new circumstances and the employer's circumstances - some employers can offer significant FBT free benefits and some can't).
- I had a defined benefit super fund with my last employer - should I leave my super funds in that fund or should I rollover these funds / entitlements to a new fudns ? If so where to?
- Should I Consolidate My Super Funds?
- Should I Invest My Redundancy Payment Or Pay Down My Mortgage?
- Should I Start A Self Managed Super Fund?
- Do I Need to Organise My Own Personal Insurance?
- Can I Transition To Retirement? Can I start a Transition to Retirement Pension and salary sacrifice to super some of my salary? Is this a benefit to me?
- Canm I retire early, access my super, and then go back to work later if I change my mind about retiring?
- Should I Organise Contracting myself out as a consultant In my own company or trust if I've been offered work as an independent operator
- Can I Access my super now? If so what's the best way?
Our team is experienced and qualified in advising you on these important and complex issues. We can't answer these questions on this web site - because the right answers depend on your circumstances.
Contact us to arrange a no obligation initial interview and we can assist you to be sure that you have identified any areas where you do need some assitance.