Based on specialist taxation advice, Targeted Voluntary Employment Separation payments are required to be treated as ETPs rather than GRPs for taxation purposes.
The revised MPSS provides for a head of agency to approve an additional payment intended to provide a comparable net financial outcome at the time of payment to that which would have applied had the relevant payment qualified for taxation treatment as a GRP.
Individual circumstances can differ, and employees may wish to seek independent financial or taxation advice.
