Exercise 9

Is the following statement true or false?

Jack has a written employment contract that was entered into on 1 January 2006. Jack retires on 1 July 2008 and in addition to his normal entitlements receives a golden handshake of $50,000.

The employer voluntarily made this payment to reward Jack for loyal service. The $50,000 golden handshake qualifies as a transitional termination payment.

Answer 9 

    Last modified: 22 Nov 2013QC 34181