Understanding and Making The Most of Redundancy
Understanding redundancy and its financial implications has become more relevant than ever in the prevailing local environment.
Recent and pending job losses will make redundancy a more common issue in many Newcastle, Lake Macquarie and Hunter residents lives. Whether your situation is involuntary or of your own choice, redundancy generally makes for a stressful time where significant lifestyle and financial decisions need to be made.
If you don’t know how to negotiate the taxation and Centrelink minefields, it can be a daunting prospect to accept a redundancy offer. But help is at hand and with professional advice you don’t have to go through it alone, we can support you on the following (where relevant):
- The financial effects of accepting the redundancy
- Tax treatment of the lump sum provided from your employer
- Full analysis of your choices in relation to your Defined Benefit Super schemes such as CSS and PSS as well as other superannuation options.
- Eligibility for Centrelink assistance, and
- Management of debt and personal insurances
If you know you are going to be made redundant, seek financial advice immediately to ensure you don’t miss out on any financial planning opportunities.
Contact us today on 02 4962 4440 or enquire about an appointment with one of our Redundancy Specialist Financial Planners.