Redundancy Tax Credit

A tax credit for being made redundant has been available from 1 December 2006. Qualifying employees receive a tax credit of 6 cents in the dollar on qualifying payments up to a maximum claim of $3,600 per redundancy (covers a redundancy payment of $60,000, the maximum to which a credit can be applied). Employees can…

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Tax on PIES

Investors in a PIE (Portfolio Investment Entity) are required to notify the PIE of their prescribed investor rate (PIR) ie their correct tax rate. PIR’s differ depending on who has made the investment as follows: Individuals – Individuals can currently choose a PIR of either 19.5% or 30%. From 1 April 2010 individuals will have…

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