How to calculate tax on early retirement scheme payments
A tax-free limit of $10,638 plus $5,320 for each completed year of service applies to early retirement scheme payments. Any amount over the tax-free limit is treated as an ETP.

A tax-free limit of $10,638 plus $5,320 for each completed year of service applies to early retirement scheme payments. Any amount over the tax-free limit is treated as an ETP.