Optimization of tax burden on severance payments
Good evening,
My employer has offered me a termination agreement along with a severance payment. The severance amount is €66,500. My gross annual income for 2015 is €76,100, including a bonus payment of €6,580. I am also entitled to a bonus payment for my performance in 2015, however, this amount is dependent on the company's results and cannot be calculated until it is paid out in April 2016. Therefore, I will exclude it from the calculations for now.
Could you please confirm the calculations and answer my questions regarding the following scenarios:
1) End of employment on December 31st, severance paid with December salary --> Net amount including the fifth rule: €37,000
2) End of employment on December 31st, severance paid in January. The fifth rule cannot be applied here (severance is less than the annual income for 2015) --> Net amount €45,800. Is it possible to consider the theoretical unemployment benefits starting from July after the waiting period? This would total €10,900. Would this result in a higher or lower tax burden?
3) End of employment on January 31st, severance paid in January --> Net amount €56,800 with the fifth rule // €44,100 without the fifth rule. The fifth rule does not apply here as the January salary and severance payment together only amount to €72,400, which is about €3,700 less than the previous year's income of €76,100. Can the bonus payment from 2015 be excluded to allow for the application of the fifth rule? Alternatively, can the bonus for 2016 be anticipated and included based on the 2015 bonus payment - is this permissible? Are there other ways to create a concentration of income to apply the fifth rule? Would including the unemployment benefits lead to a disadvantageous tax burden? How would the January salary be taxed in this case?
It is important for me to maximize the payout amount in 2015/16, as I am planning to start a self-employment in 2016 and liquidity is of great value to me. My employer is open to receiving information from me regarding my income situation in 2016, which can influence the calculation of the severance payment.
Thank you in advance for your support.
