PAYG withholding on redundancy payments

News

PAYG withholding on redundancy payments

The ATO has provided new information on Pay As You Go (PAYG) withholding, applying to payments to employees who are made redundant.

WantToReadMore

Get unlimited access to all of our content.

The ATO has provided new information on Pay As You Go (PAYG) withholding, applying to payments to employees who are made redundant.
 
The easy guidelines set out the various payments you may make to such employees, and your (PAYG) withholding and super obligations.
 
Payments allowed
 
Payments which may be made include: 
  • employment termination payments;
  • genuine redundancy payments;
  • early retirement scheme payments;
  • payments for time worked or leave already taken; and 
  • payments for unused leave.
The guidelines include links to the relevant pages on the ATO website which deal with withholding for each of these payments.
 
Post details