Termination dilemma: the carrot or the stick?

Australasian Business Intelligence, April, 2002

Apr 28, 2002 (The Australian Financial Review

ABIX via COMTEX) -- Australians who cash in a superannuation lump sum payment they receive on leaving a job are taxed more heavily. The move is part of an attempt by the Australian Government to encourage Australian employees to save more superannuation. Under the government's eligible termination payments tax regime not only are immediate taxes higher but there is the potential liability for a 15 termination payment surcharge if the Australian Taxation Office happens to consider the sum particularly generous.

Publication Date: 27 April 2002

AUSTRALIAN TAXATION OFFICE

By John Wasiliev

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