The current economic climate has seen an increase in the number of terminations occurring, particularly on the grounds of redundancy. This paper reviews the latest measures and highlights the issues and strategies on all aspects surrounding termination payments.
Topics covered include:
- employment termination payments
- genuine redundancy payments including non-arm's length dealings e.g. directors
- restraint of trade payments - when excluded from ETP treatment
- lump sum leave payments - annual and long service leave
- excess payments and Section 109
- paperwork and withholding obligations
- areas of potential concern.