Genuine redundancy and early retirement scheme payments – consultation on draft law to extend age limits to match age pension (per last MYEFO announcement)

The Government has released exposure draft legislation and explanatory material for amendments to give effect to the 2018-19 ‘Mid-Year Economic Financial Outlook’ (MYEFO) announcement, that it would extend the concessional tax treatment of genuine redundancy and early retirement scheme payments, from 1 July 2019, to those under Age Pension qualifying age.

See below for further detail about this announcement and consultation details.

FJM 6.7.19

[Tax Month – July 2019]