(Australia)

Mal, born 24th October 1954 has worked fulltime for Brooklyn & Sons since 15^th April 2008. Mal Turnstile was made redundant on the 30th of June 2020 as his position is no longer required. His normal pay has already been paid. Brooklyn and Sons is not classified a small business.

• Mal is to be paid his redundancy/severance pay
  • Refer to Fairwork and pay according to the National Employment Standards (NES).
  • No unauthorised or unpaid leave was taken
• Mal did not work out the notice period as he was asked to leave immediately:
  • In lieu of notice (as per NES) 5 weeks
• Leave outstanding at the date of termination:
  • Annual Leave 8 weeks
  • Long Service leave 14.5 weeks
• Additional information
  • $1,151 Gross weekly salary
  • Mals Salary received year to date $527,852
  • Tax withheld year to date is $233,005. Tax free threshold used / No leave loading

REQUIRED:

Using the Question 8 tab within the Excel template provided:

1. Calculate the redundancy/severance and in lieu of notice amount
2. Calculate the service period and Tax free limit of the redundancy payment
3. Calculate the tax free redundancy payment amount for Mal
4. Calculate the tax payable on the unused leave payments.
5. Complete the STP labels for summary of payments declaration.
6. Calculate the ETP:
   1. Select the Capping Threshold Type for this ETP
   2. Enter the other income the employee has received and calculate the Capping threshold amount available to employee
   3. Tax-Free Component of ETP.
   4. Taxable Component of ETP.
   5. Tax to withhold from the ETP.
   6. Net payment of the ETP.