2 redundancies - tax implications

urban myth

Registered User
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1
I had two jobs. One full time, one part time.
i have been made redundant from my part time job. i have been offered c.2k

It is likely i could be made redundant from my full time role, which would be a significant payout.

i have a concern about the tax implication of the first one being tax free and how this could affect the (potential) second one.

i took this from another website - will i still be entitled to the increased exemption ?

Basic Exemption plus Increased Exemption

An additional €10,000 called the Increased Exemption is also available in the following certain circumstances:

  • If you haven't received a tax-free lump sum in the last 10 years
  • If you have never received a tax-free lump sum and you are not getting a lump sum pension payment
 
You need to check this out with an expert. An accountant should clarify this for you.
 
Is the 2k above statutory redundancy?

Normally the SCSB will give a reasonable good result if you have worked there for any reasonable length of time.