You may have been deemed eligible or have met the criteria to be offered the ADF continuation bonus. This is an offer for you to complete another 3 years of service and the ADF will offer you $50,000 in return. What does that mean for you and what should you consider from this offer?
What options do you have with the payment:
What else is affected:
This will become part of your taxable income so it will have an effect on other government financial services such as the Child Care Subsidy and Child Care payments.
If you're confident (and happy) that you will serve another 3 years in the ADF, this amount might really give you a good cash lump sum! (And take the edge off those weekend guards). It's important that you fully understand the financial implications with this retention bonus offer, both if you take the $50,000 and if you don’t complete the 3 years.