- Payout any remaining leave
- Make an ETP payment.
Payout Unused Leave
- Include in Gross Payments
- Lump Sum A Redundancy
- Lump Sum A Termination
5. Click Calculate Totals, Preview PDF to check payslip and Update Paycycle. This will redirect you back the paycycle page for the next step.
1. Back in Pay, click ETP to go the End Termination Payment page.
2. Click Create New Payment.
3. You can then select the Employee, Financial Year Ending and Payment Date.
4. Then click Add New Payment.
5. Select the Termination Type from the drop down e.g R for Redundancy
6. Select if it is a Transition Termination Payment, or Part of a payment in an earlier income year.
7. Input the values for the termination including:
- Non-Taxable Component
- Taxable Component
- PAYG Component.
- Super Component
- Add a label if required
- Total Payment
8. Once the correct values have been inputted you can then Preview the PDF (to view the payslip)
9. If you are happy proceed, click Create Payment.
10. A confirmation will appear allowing you to enter any comments for auditing purposes. Click Save Changes.
11. This will create a pdf of the ETP and be available for the employee to download in their Employee Portal via Timesheets > Payslips.
12. In Pay > Payslips You're now able to access the ABA History for this payment.
Additional information on how to tax Redundancy Payments that fall outside of the tax-free cap can be found at the following link: https://www.ato.gov.au/Business/Your-workers/In-detail/Taxation-of-termination-payments/?anchor=Redundancyandearlyretirement#Redundancyandearlyretirement