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Boost for redundant workers
Darien Fenton Media Statement
Government Member of
Parliament
Boost for redundant workers
Labour MP Darien Fenton is welcoming the government’s introduction of a redundancy rebate which comes into force today, along with a raft of other 1 April changes.
Under the new provisions, tax on redundancy will be rebated at 6 cents on the dollar up to a maximum of $3,600 and the tax rebate will apply to redundancy payments made on or after 1 December 2006.
"While unemployment is at record low levels, there are still numbers of workers being made redundant” says Ms Fenton.
“This can be an unsettling and financially stressful time for workers and while redundancy compensation is intended to mitigate that to some degree, the previous calculation on redundancy tax was unfair.
“While redundancy is never good news, I am pleased that the government’s actions today will deliver more compensation in the hand to workers who have the misfortune to lose their jobs” she said.
ENDS
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