Redundancy Planning
The prospect of your job being made redundant can bring about a number of challenges and concerns.
A sudden drop in household income, and the possibility that new work may not be found for sometime requires due consideration in how to best utilise a redundancy payment.
At Abundant, we’ll help you with:
Understanding the tax implications of a redundancy payment.
Considerations around how to best utilise these funds considering competing financial objectives.
Managing cashflow throughout a period of reduced income.
Considering debt obligations and how to manage ongoing repayments, and considering benefits in making lump sum capital repayments.
Investment opportunities and opportunities to convert debts to increase tax deductibility.
Understanding superannuation implications to a termination payment and opportunities to maximise tax deductible contributions.
We can help you work through how best to optimise a redundancy situation for your individual financial situation.