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Redundancies after the age of 65 aren't 'genuine' – is it fair?

Subsection 83.175(2)(a) of the Income Tax Assessment Act 1997 requires that the employee is dismissed before the day he/she turns 65 to satisfy the genuine redundancy provisions. The provision was inserted in July 2007 as part of the Tax Laws Amendment (Simplified Superannuation) Bill 2007. No mention of this provision was included in the Explanatory Memorandum, nor in the second reading speeches. The earlier Treasury... more »