We know how difficult and stressful a redundancy can be both emotionally and financially. That's why we want to remind you of the importance of understanding the various tax implications that come with your redundancy payout. It's important to note that not all redundancy payments are taxed in the same way. The ATO has a specific definition for redundancy and it's important to determine whether your payout is considered genuine or non-genuine, as this can have a significant impact on how your pa

1K views · 17 reactions | A redundancy is a type of employment termination that happens when a business no longer needs an employee’s role to be done by anyone. Watch our video to learn more about redundancy entitlements and visit our website for more info: https://www.fairwork.gov.au/ending-employment/redundancy | Fair Work Ombudsman | Facebook