One of the mysteries of the English language finally explained.
A lump sum, especially one received by a departing employee, which may be paid into an investment fund.‘in this case, the amount is treated as an eligible termination payment’
- ‘If one commutes the pension to a lump sum, it is in general an eligible termination payment.’
- ‘An eligible termination payment, that is the lump sum payment, is taxed at 15 per cent.’
- ‘A fund that can accept eligible termination payments and that is eligible for the same concessional tax treatment as a superannuation fund.’
- ‘The fact that the options and the eligible termination payment were dealt with differently hardly seems relevant.’
- ‘It was a taxed superannuation fund which then gave rise to the benefits by way of deduction and rebate upon the payment of eligible termination payments.’
- ‘A type of fund into which lump sum eligible termination payments are deposited or 'rolled over' upon a person's retirement, resignation, or retrenchment.’
- ‘The eligible termination payment came in cash and that stayed with him, and did not go across to the family company.’
- ‘Withdrawals of capital are permitted and are taxed as eligible termination payments.’
- ‘The government broadened the payroll tax base by removing the concessions on fringe benefits and eligible termination payments.’
- ‘Lump sum payments made to the former pilots under a "loss of licence insurance" scheme if they lost their pilot's licences for medical reasons were assessable to the pilots as eligible termination payments.’
Top tips for CV writingRead more
In this article we explore how to impress employers with a spot-on CV.