How do you calculate the non-genuine redundancy? Julie Phillips is the Little Pear Administration Pty Ltd Managing

How do you calculate the non-genuine redundancy?

Transcribed Image Text:

Julie Phillips is the Little Pear Administration Pty Ltd Managing Director. She has been in the company for 8 years but her position is no longer needed due to a recent outsourcing strategy. She accepts the redundancy termination and is paid $200,000. The genuine redundancy part of her payment is $300 per week worked for the company. Her other taxable income in 2018-19 is $125,000. Julie has not reached preservation age. Julie Phillips is the Little Pear Administration Pty Ltd Managing Director. She has been in the company for 8 years but her position is no longer needed due to a recent outsourcing strategy. She accepts the redundancy termination and is paid $200,000. The genuine redundancy part of her payment is $300 per week worked for the company. Her other taxable income in 2018-19 is $125,000. Julie has not reached preservation age.

Answer rating: 100% (QA)

To calculate the tax on the genuine redundancy payment we need to first determine the taxfree amount ... View the full answer