Page 11 - P6 Slide Taxation - Lecture Day 7 - Various Topics
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2. Lump sums from employers
1. Gross income, par (d) ) [excluding par d(ii) and (d)(iii)]
an amount received/accrued (including a voluntary award) iro the
relinquishment, termination, loss, repudiation, cancellation or variation of
any office or employment.
- Excluding annuities [gross income, par (a)]
- Excluding lump sums from PF, PPF, PrF, PrPF, RAF [gross income, par (e)
and (eA)].
- If an employee dies before the date of retirement and his/her employer pays
an amount to any other person, dependant or named beneficiary, it is
DEEMED as if the amount accrued to the employee immediately prior to
his/her death.
- Tax implications for other person/dependant/named beneficiary?
• Will a restraint of trade payment fall within the scope of par (d)?
