Definition of «termination payments»

"Termination payments" refers to the money or compensation given to an employee when their employment is ended or terminated by their employer.

There are also new rules about the taxation of termination payments coming into force. (mfgsolicitors.com)
An employment termination payment made as a result of termination of a person's employment, other than as a result of their death. (ato.gov.au)
Employers to be liable to pay employer's national insurance contributions on termination payments above # 30,000. (burges-salmon.com)
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