An Incolink Severance Account is the default account issued to workers and provides access to funds if employment is terminated for any reason.
Severance termination payments are taxed at the concessional tax rate.
Incolink Severance Accounts provide Incolink members an Initial Benefit and if they remain unemployed for more than four (4) weeks workers can claim their Balance of Funds.
A worker can make an initial claim when they become unemployed. To make a claim, simply register and login via WorkerLink or the Incolink App for iOS or Android and follow the prompts to make a claim.
To be eligible to claim, your employer must first notify Incolink of your employment end date. If an end date does not exist in the system, you will not be eligible to claim online.
Please note: proof of identification is required for verification on all Incolink Claims. When proof of ID is successful for a claim submitted online the system will automatically process the claim and payment will be available in workers account on the next business day.
An Incolink worker member can apply to withdraw the Balance of Funds in their account when they meet one of the following criteria:
- They have been unemployed for four weeks and registered with either Incolink Job Support or Centrelink. If registered with Centrelink official documentation must be provided as proof of registration.
- Have not worked in the industry for 39 weeks; a statutory declaration must be completed and executed.
- Is retiring from active employment and is over 55 years of age; a statutory declaration must be completed and executed.
- Is unemployed and leaving Australia for more than two years; a certified copy of a current passport and copy of itinerary showing non-return flight must be provided as proof; a statutory declaration must be completed and executed.
Please note: proof of identification is required for verification on all Incolink Claims
Contact Incolink if you have any queries relating to your redundancy fund or claims.
Telephone: (03) 9639 3000