Employment termination benefit rates for 2014/15

Written on the 21 March 2014 by Macmillans Waller Fry - Accountants in Maitland

The ATO has just released the employment termination benefits tax rates which will apply in respect of the 2014/15 financial year.

  • Life benefit cap – employment termination payments – increased to $185,000 from $180,000
  • Death benefit cap – employment termination payments – increased to $185,000 from $180,000
  • Genuine redundancy and early retirement scheme payment limits – base limit increased to $9,514 (previously $9,246) and the “complete year of service amount” increased to $4,758 (previously $4,624).

Author: Macmillans Waller Fry - Accountants in Maitland

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