The rules in regard to what is and is not an employment termination payment and how the benefit is taxed are complex. This course covers the nature of a genuine redundancy payment, early retirement payments, life insurance policy payments and the treatment of unused annual leave and long service leave.

Key topics:

  • What is an employment termination payment?
  • What is a genuine redundancy payment?
  • The taxation treatment of an ETP (life benefit)
  • The taxation treatment of an ETP (death benefit)
  • Taxation treatment of unused leave

This one hour online course forms part of the FastClass short course suite.

Learning objectives

  • Identify an employment termination payment
  • Identify a genuine redundancy payment
  • Determine the taxation treatment of an employment termination payment
  • Identify a life benefit termination payment and when it is paid
  • Determine the taxation implications of a death benefit termination payment
  • Assess how unused leave is taxed

Audience

This course is suitable for:

  • accountants who are licensed to provide SMSF advice
  • employees of accountants who are licenced to provide SMSF advice
  • SMSF auditors
  • trustees of SMSFs

365 Days

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