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Terminations & redundancies unravelled paper

Published on 06 Aug 09 by QUEENSLAND DIVISION, THE TAX INSTITUTE

As well as the emotional cost of a termination to the business owner and the individual in question, there can be significant tax costs involved. Practitioners will be increasingly called upon to provide advice on the correct tax treatment and other issues to be considered around termination payments. This paper covers:

  • employment termination payments
  • genuine redundancy payments
  • superannuation aspects
  • transitional termination payments, and
  • other considerations such as:
    • employee share plans
    • payroll tax
    • FBT, and
    • excessive remuneration to associates.

Author profile:

Jamie TOWERS
Jamie’s background includes Senior Managerial roles within a Big 4 accounting firm which has allowed him to develop his expertise in taxation, advising family groups through to global companies. Jamie works closely with Hanrick Curran’s clients to simplify taxation obligations and to create tax effective structures and solutions for businesses and their owners. Jamie also assists small and regional accounting and legal practitioners to provide training and technical tax consulting advice to their clients.
Current at 9 October 2008 Current at 15 December 2008 Click here to expand/collapse more articles by Jamie TOWERS.
 

 

This was presented at North Queensland Convention 2009 .

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