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Regarding Inders Termination payment. Inder received the following payments from his employer Gross salary from employer from the 1st of July 2018 to 30th of
Regarding Inders Termination payment.
Inder received the following payments from his employer
Gross salary from employer from the 1st of July 2018 to 30th of May 2019 = $57,000
Genuine redundancy payment received on the 30th of May 2019 = $73,000
Unused annual leave = $26,000
Unused long service leave = $12,800
Advise Inder how much tax is payable on the above termination payments. Assume no deductions to claim. You must clearly identify any ETP tax offset.
Please show the steps used for calculations as well clearly.
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