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22-05-2012, 11:35   #1
smcgiff
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Hello,

For there to be tax relief given to an employee on leaving, is there any tax relief on their part?

Or does it only apply to retirement/redundancy?

Thanks
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22-05-2012, 14:40   #2
nompere
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Originally Posted by smcgiff View Post
Hello,

For there to be tax relief given to an employee on leaving, is there any tax relief on their part?

Or does it only apply to retirement/redundancy?

Thanks
Generally ex-gratia payments on leaving an employment are relieved in the same way as ex-gratia payments on retirement (or redundancy).

I think that's the answer to the question you posed - though it's not the clearest bit of writing you ever did!!
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22-05-2012, 15:05   #3
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Generally ex-gratia payments on leaving an employment are relieved in the same way as ex-gratia payments on retirement (or redundancy).

I think that's the answer to the question you posed - though it's not the clearest bit of writing you ever did!!
Sorry, I don't think I've written a coherent sentence all day.

Just to confirm, it doesn't need to be a redundancy or retirment to qualify for relief?

Would they be entitled to the Basic Exemption - €10,160 and €750 per year of service without being made redundant? They are not entitled to a lump sum as part of their contract.
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22-05-2012, 15:52   #4
nompere
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Sorry, I don't think I've written a coherent sentence all day.
I know the feeling.

The rubric to S.123 TCA 1997 refers to "General tax treatment of payments on retirement or removal from office or employment.", but the legislation itself talks in ss(1) about payments "... in connection with, the termination of the holding of an office or employment ..." and in ss(2) to " ... any payment to which this section applies made to the holder or past holder of any office or employment ..."

"Retirement" doesn't take its ordinary meaning based on those two provisions.
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22-05-2012, 17:04   #5
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You the man, nompere!
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