I understand that PILON can be treated as tax exempt depending upon contract wording. Where an employment contract states "either party may request that all or part of the notice period may be waived by mutual agreement which will entitle the company to pay any notice entitlement to you in lieu of having to to work such notice. Where this is mutually agreed, your salary and benefit entitlement, and your employment, will terminate on the agreed date"
Does a contract with such wording constitute a ground for payment on a tax exempt basis.
Thank you in advance, always found this forum very helpful
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