Severance pay and receipt of sick pay
February 25, 2015 | 30,00 EUR | answered by Ralph J. Schnaars
Dear Sir or Madam,
I have been receiving sick pay since 10/10/2014 and it looks like I will still be ill for the whole year (2015). My employer has now terminated my employment as of 31/05/2015 and we have agreed on a severance payment of €30,000. I would like to ask how much net amount will remain from the severance on the day of payment.
Some key information:
Tax class 4 with a factor of 0.95, 38 years old
Income 2014: €49,500 plus €6,500 sick pay
Expected income 2015: €29,500 sick pay
Thank you in advance.
Yours sincerely
Dear inquirer,
Your employer will likely calculate and pay out the severance pay with the salary statement for May 2015.
In the calculation, I have included a church tax of 9 percent and assumed that you have no children, are single, and will not have any other income in 2015 (apart from sick pay).
This results in a net payout of EUR 18,361.07.
I hope I could assist you with your considerations.
Kind regards,
Ralph J. Schnaars
STWB Tax Advisory GmbH
Direct contact +49 (0)171 525 20 42
Email mail @ stwb-steuer.de
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