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Definition of eligible termination payment in English: eligible termination paymentnoun Australian A lump sum, especially one received by a departing employee, which may be paid into an investment fund. in this case, the amount is treated as an eligible termination payment Example sentencesExamples - If one commutes the pension to a lump sum, it is in general an eligible termination payment.
- An eligible termination payment, that is the lump sum payment, is taxed at 15 per cent.
- A fund that can accept eligible termination payments and that is eligible for the same concessional tax treatment as a superannuation fund.
- The fact that the options and the eligible termination payment were dealt with differently hardly seems relevant.
- It was a taxed superannuation fund which then gave rise to the benefits by way of deduction and rebate upon the payment of eligible termination payments.
- A type of fund into which lump sum eligible termination payments are deposited or 'rolled over' upon a person's retirement, resignation, or retrenchment.
- The eligible termination payment came in cash and that stayed with him, and did not go across to the family company.
- Withdrawals of capital are permitted and are taxed as eligible termination payments.
- The government broadened the payroll tax base by removing the concessions on fringe benefits and eligible termination payments.
- Lump sum payments made to the former pilots under a "loss of licence insurance" scheme if they lost their pilot's licences for medical reasons were assessable to the pilots as eligible termination payments.
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