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  • Tax free part of bona fide redundancy and approved early retirement scheme payments limits

    This table shows the limit set for bona fide redundancy and early retirement payments that applied prior to 1 July 2007. The tax free amount is not an eligible termination payment.

    Table 33: Tax free limits for bona fide redundancy and early retirement scheme payments

    Income year

    Base limit

    Per complete year of service

    2006–07

    $6,783

    $3,392

    2005–06

    $6,491

    $3,246

    2004–05

    $6,194

    $3,097

    2003–04

    $5,882

    $2,941

    2002–03

    $5,623

    $2,812

    2001–02

    $5,295

    $2,648

    2000–01

    $5,062

    $2,531

    1999–2000

    $4,858

    $2,429

    1998–99

    $4,712

    $2,356

    1997–98

    $4,548

    $2,274

    1996–97

    $4,348

    $2,174

    1995–96

    $4,180

    $2,090

    1994–95

    $4,000

    $2,000
    Last modified: 13 Jan 2023QC 18123