Fair Work Redundancy Calculator

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How is redundancy pay calculated?

Summary. An employee is entitled to redundancy pay when they are made redundant and dismissed from their employment. The formula to calculate redundancy pay is as follows: Base rate x redundancy pay period = redundancy pay. via

What is a good redundancy package?

Statutory redundancy is calculated using a formula which is based on the length of service, your age and your weekly pay. 0.5 week's pay for each full year worked when you're under 22; 1 week's pay for each full year worked when you're between 22 and 41; 1.5 week's pay for each full year worked when you're 41 or older. via

What are the 5 fair reasons for redundancy?

5 Fair Reasons for Dismissal

  • Conduct/Misconduct. Minor issues of conduct/misconduct such as poor timekeeping can usually be handled by speaking informally to the employee.
  • Capability/Performance.
  • Redundancy.
  • Statutory illegality or breach of a statutory restriction.
  • Some Other Substantial Reason (SOSR)
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    What is minimum redundancy pay?

    Redundancy pay is based on your earnings before tax (called gross pay). For each full year you've worked for your employer, you get: up to age 22 - half a week's pay. age 22 to 40 - 1 week's pay. age 41 and older - 1.5 weeks' pay. via

    Is redundancy tax free?

    If you've been made redundant and are getting redundancy pay, you might be wondering if you have to pay tax on it. But, some other parts of your redundancy package, such as holiday pay and pay in lieu of notice, will be taxed in the same way as regular income. via

    What is the maximum number of weeks for redundancy pay?

    one week's pay for each year of employment between the ages of 22 and 40; one and a half week's pay for each year of employment over the age of 41; a maximum of 20 years' employment can be taken into account; and. there is a statutory maximum limit to a week's pay. via

    What is the maximum redundancy payment?

    There are limits to how much redundancy pay you can get. You can only get it for up to 20 years of work. This means, for example, that if you've worked for your employer for 22 years you'll only get redundancy pay for 20 of those years. via

    How much notice should you be given for redundancy?

    The statutory redundancy notice periods are: at least one week's notice if you have been employed between one month and two years. one week's notice for each year if employed between two and 12 years. 12 weeks' notice if employed for 12 years or more. via

    Can my employer refuse to pay redundancy?

    Your employer can refuse to pay your redundancy pay if they don't think you have a good reason for turning down the job. via

    Can you negotiate a redundancy package?

    Negotiating a Redundancy Package – Conclusion. When you're about to be made redundant, you have very little to lose by trying to negotiate a better redundancy package from your employer. Your employer wants to avoid subsequent legal action so will often be more flexible than you might expect. via

    How do you negotiate a redundancy offer?

  • Set out your objectives.
  • Check your contract of employment.
  • Check your employer's redundancy policies.
  • Decide your negotiating strategy.
  • (Almost) always seek to negotiate the financial values.
  • Be clear and polite when negotiating.
  • Take good notes of meetings.
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    What is a fair reason for redundancy?

    Fair reasons for redundancy must be objective and able to be measured. For example, attendance history, punctuality, skills and experience, performance and disciplinary history are all considered as fair reasons for redundancy. Length of service and qualifications may also be considered. via

    How do you prove unfair redundancy?

  • there was a genuine need to make redundancies in your workplace.
  • your employer followed a fair procedure for consulting the workforce and selecting people for redundancy.
  • the decision to select you was fair.
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    What are valid reasons for redundancy?

    What constitutes grounds for redundancy?

  • The need for the worker has diminished or ceased.
  • New systems in the workplace.
  • The job no longer exists because other workers are doing the work you carried out.
  • The workplace has closed or is closing down.
  • The business moves.
  • The business is transferred to another employer.
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