Annabel has worked for her employer for fourteen years. She had a great career. In the beginning as a communications officer, later she climbed to manager of Marketing & Communications. However, after the arrival of a new director, the chemistry wore off. Annabel and her employer are therefore parting ways. After tough negotiations, both parties sign the settlement agreement. Both Annabel and her employer are satisfied with the outcome.
The agreement then falls on the desk of payroll administrator Tim "Please execute what we agreed upon." Annabel will remain employed through June 2021. However, she is released from work immediately. Severance pay is due as early as February 2021. "Strange," Tim thinks, "that is always paid out at the final settlement, isn't it? What now?"
The following questions go through Tim's head:
- Is this income from previous employment something for the green table? Or should it be on the white table?
- What is actually the difference with an additional bonus?
- How does the Tax Authorities see this?
- Do I still have to take into account the Early Retirement Scheme (RVU)?