Australia onlyOnly available to Australian businesses using Single Touch Payroll reporting An employment termination payment (ETP) is a lump sum payment made to an employee because their employment has finished. It ETP includes payments for unused rostered days off, payments in lieu of notice, a gratuity or 'golden handshake', employee invalidity payment and certain payand more. For a full list of payments that are and are not ETPs, see the ATO website. | UI Text Box |
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| ETP does not include payments for unused annual leave. For more information on paying out unused annual leave to a terminated employee, see Processing a final pay. |
In MYOB Essentials,\ Setting up ETP in MYOB EssentialsBefore processing an ETP for an employee, you first have to set up ETP pay items and assign them to terminated employees. | UI Expand |
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| title | Setting up ETP pay items |
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| Setting up ETP pay itemsETPs can be made up of taxable and non-taxable earnings, and tax-withheld deductions. We'll step you through how to create all 3 below, but you may not use all 3 for each employee. Please see the ATO website or speak to your accountant if you're unsure what a terminated employee is owed. Start by going to the Pay items page (Payroll > Pay items). Creating the ETP taxable earning- Click Create earning.
The Create new earning window appears. - Choose the ETP from the Type dropdown box.
- Enter a Name and Name for payslip. We recommend naming it ETP - Taxable or similar to easily find it in your earnings lists and identify it on the payslips.
- Choose a fixed
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