ADHC privatisation: Your transfer package and tax - Public Service Association

ADHC privatisation: Your transfer package and tax

ADHC privatisation, Your transfer package and tax – July 2017 (PDF Version)

Over the past month the PSA has received a number of questions from members about what percentage of tax will be taken out of their eight-week transfer payment.

We can inform members the transfer payments will be classified as an Employment Termination Payment (ETP) for the purposes of calculating tax. This means members are able to receive concessional tax treatment.

The amount of tax withheld from an ETP is set by the Federal Government and subsequently administered by the Australian Tax Office (ATO).

The Department has published information on the taxation of your transfer payment HERE.

You can read more about Employment Termination Payments and tax on the ATO website HERE.

I’d like information on my transfer payment

You should have received written information outlining how your ETP would be taxed prior to the transfer. If you have not received this information, we encourage you to contact Working Together.

PSA cannot give financial advice

Unfortunately, the PSA is not registered or licensed to provide personal tax or financial advice. However, we strongly encourage all members to direct any enquiries to FACS HR or the ATO and seek independent financial advice.

And remember… remaining a member of the PSA/CPSU is essential to protect your rights and entitlements in the current changing environment and beyond.

Talk to your colleagues about joining today.

Have you switched to direct debit? Make sure you are protected!

If you have not yet switched to direct debit click HERE to protect your membership today!

Related Posts

Back To Top