Redundancy. Presented by QSuper. Important information.
Presented by QSuper
This information has been prepared for general purposes only, without taking into account your objectives, situation, or needs, and should not be relied on a as legal or taxation advice, nor does it take the place of such advice so it may not be appropriate for your circumstances.
You should read the product disclosure statement (PDS) and consider your circumstances before you make an investment decision. You can download a PDS from our website, or call us and we’ll send you one. Before acting on any of the information, you may wish to consider obtaining personal financial advice.
This presentation is issued by the Fund Administrator, QSuper Limited (ABN 50 125 248 286, AFSL 334546), on behalf of the QSuper Board of Trustees (ABN 32 125 059 006). The QSuper Board of Trustees is the issuer of interests in the QSuper Fund (ABN 60 905 115 063). Where the term ‘QSuper’ is used in this document, it represents the QSuper Board of Trustees, the QSuper Fund, and QSuper Limited, unless expressly indicated otherwise.
What to consider
Employer Redundancy Package
Can you access this or will you leave it in your QSuper account?
Tax on unused leave entitlements
1. Plus Medicare levy of 1.5%
Tax-free portion (under age 65)
Tax depends on:
- the amount of the payment
- your taxable income
- whether any part of the payment relates to a period before 1 July 1983
Human Services (formerly Centrelink)
Newstart Age Pension
Assumptions: Income based on $70,000 and 20 years service.
1. Marginal tax at 31.5%, leave loading not included.
2. Genuine redundancy or ATO approved voluntary early retirement,
2012/2013 tax free amount of $8,806 + $4,404 for each completed year
of service. In this example that equals up to $96,886 tax-free