Hi Tony,
I am interested in this article as I will receive an ETP as part of a redundancy package in 2014 – which, when included with my remuneration, will lead to a taxable income in excess of $300k. Will the ETP be included in determining whether my employer and salary sacrifice contributions are taxed at 30%?
Thanks.
A: For this new measure you include the following amounts in the income test:
• Taxable income
• Reportable fringe benefits
• Total investment losses
From these amounts you deduct the following:
• Some tax-free distributions from family trusts
• Some super benefits included in your tax return if you’re aged at least 55 but under 60 that receive a tax offset so the benefit is concessionally taxed
Regards.
