Yes just like angler id really like to know if todays announcement only applies to redundancy payments after jan 2014 or for any payments recieved in 2013?
Yes just like angler id really like to know if todays announcement only applies to redundancy payments after jan 2014 or for any payments recieved in 2013?
This document indicates the yield from the change will be zero in 2014 for the Govt so looks like you are ok.
They give the relief for you in Jan 2014 because they have to wait until then to see your effective rate for the full of 2013.
If you want to check out the newstalk website experts from price warehouse cooper were answering questions from people after the budget and said any redundancy payments recieved in 2013 would still recieve top slicing in jan 2014,These answers to the top slicing questions can still be viewed on the site.
Don't forget to add in the statutory redundancy element ... [(39 years x 2 weeks) + 1 week] = 79 x 600 = €47,400
€130,000 + €47,400 = €177,400
The present value of future tax free lump sum from the pension plan would reduce this - unless the person waives the right to the pension scheme lump sum
Perhaps have a quick re-read of DB74s original post.
Hello Everybody, I am new here. Bear with me if i am making mistakes. Top Slice tax on exgratia will be abolished in 2014, does that means that there will be no more tax back in the following year ?
Folks, stop bickering please. I have deleted lots of posts.
I started the confusion as I misunderstood the Minister's speech yesterday in my hurry to post it. I apologise for any heart attacks caused to people getting lump sums in the near future.
But if others make mistakes on, what are complicated issues, correct them and move on. No need to take the thread off topic calling them names.
I have got advice from a taxation consultant and i can
confirm that if you got a redundancy payment in 2013
top slicing will apply. However if you get a red payment
after 31dec 2013 top slicing will not apply.