ETP

When ETP Payments are generated for an employee, an ETP Certificate must be produced as part of the year end processing. The details entered on this window provide the information for Preceda to create the ETP Payment Summary.

Prerequisites

  • No prerequisites

Rules and Guidelines

  • Fill in the mandatory fields.

Field Information

This is the Payment Date from the Payrun Header that the ETP was processed in.

This displays the total of all taxable ETP Allow/Deduct Codes for the dated entry.

This displays the total of all tax free ETP Allow/Deduct Codes for the dated entry.

This displays the ETP Tax value calculated on the ETP Payment for the dated entry. For more information on tax calculations for ETP Payments, see the ETP Tax page.

In most instances, this will populate automatically depending on the ETP Type selected on the Classification C of Allow/Deduct Code. However, there are some occasions where you will have to manually select a code.

ETP Type Payment Code
LB O
LN R
DN N
DD D
DT T
TF
  • If an ETP Payment with ETP Type TF is paid with another ETP Payment which has a different ETP Type and only 1 other ETP Type in the same payrun, then the TF will be set to the Payment Code option from the other ETP Payment.
  • If there are multiple ETP Payments with multiple ETP Types in the same payrun and a TF is also paid, then the system cannot populate the Payment Code for the TF. This will need manual updating on the ETP screen after the payrun has been closed.
  • If the only ETP Payment in the payrun is a TF, then the Payment Code will be blank and the user must select the appropriate Payment Code on the ETP screen after the payrun has been closed.

 

To record a B Payment Code, you must first generate the payment through a payrun using Classification C Allow/Deduct Code which has the ETP Type of DN. Once the payrun is closed, you can manually navigate to the ETP screen and change the Payment Code from N to B.

To record a P Payment Code, you must first generate the payment through a payrun using Classification C Allow/Deduct Code which has the ETP Type of LB. Once the payrun is closed, you can manually navigate to the ETP screen and change the Payment Code from O to P.

To record an S Payment Code, you must first generate the payment through a payrun using Classification C Allow/Deduct Code which has the ETP Type of LN. Once the payrun is closed, you can manually navigate to the ETP screen and change the Payment Code from R to S.

 

Payment Code Description
B Death benefit ETP paid to a non-dependant of the deceased. You made a termination payment to the non-dependant in a previous income year for the same termination.
D Death benefit ETP paid to a dependant of the deceased.
N Death benefit ETP paid to a non-dependant of the deceased.
O

Other ETP not described by R. For example:

  • Golden Handshake
  • Gratuity
  • Payment in lieu of notice
  • Payment for unused sick leave
  • Payment for unused RDOs
P

This is a code O payment. You made one of the following payments to your employee in a previous income year for the same termination:

  • Code R payment
  • Code O payment
  • Transitional termination payment
R

ETP because of:

  • Early retirement scheme
  • Genuine redundancy
  • Invalidity
  • Compensation for: Personal Injury/ Unfair Dismissal/ Harassment/ Discrimination
S

This is a code R payment. You made one of the following payments to your employee in a previous income year for the same termination:

  • Code R payment
  • Code O payment
  • Transitional termination payment
T Death benefit ETP paid to a trustee of the deceased estate.

 

This displays the status of the ETP Payment Summary.

Code Description
A Printed - Automatic - An ETP Payment Summary has been issued and the details are to be transmitted to the ATO.
I Ignore - An ETP Payment Summary has not been issued and no information is to be transmitted to the ATO.
N or Blank Not Printed - An ETP Payment Summary has not been issued.