1. Sandra has worked for ABC Co for 11 years. She is made redundant in the 2021 financial year and receives a redundancy payment of $50,000 top of annual and long service leave entitlements. She would not have been paid any remuneration under the relevant workplace policies (on top of annual and long service leave entitlements). She a receives bonus totalling $10,000 for her previous year contribution and a once-off $10,000 holiday voucher (a) Advise the tax consequences for each payment received during the 2021 financial year. Refer below regarding the genuine redundancy and early retirement scheme payment limits Table 20: Genuine redundancy and early retirement scheme payment limits Income Base limit For each complete year of service year 2021-22 $11,341 $5,672 2020-21 $ 10,989 $5.496