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Legislative Update for PeopleSoft HCM Global Payroll Australia

Effective retroactively from July 2019, the Australian Government has extended the concessional tax treatment of genuine redundancy and early retirement scheme payments to those who had reached the current age based limit of 65 years but not the Age Pension qualifying age. The changes apply to payments received by employees who are dismissed or retire on or after July 1, 2019. 

In order to ensure compliance with these legislative initiatives Oracle has published a position statement on My Oracle Support, Document ID 2626371.1. We encourage our customers to review the latest Statement to keep up to date.

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