ETP Benefits Types Definitions
I am currently process a final pay for an employee receiving an in lieu of notice payment as well as unused annual leave. Essentially this is an ATO ETP Code O payment, but options in MYOB are Life, Multipe or Death - what does that mean? I can turn this funcitonality off using the payroll category, however the category has been set correctly as the amounts paid are reportable as an ETP? Have not been able to find what MYOB's definition of 'Life, Multiple or Death' means, please help.
Hi Linley21
When you use an ETP based specified ATO reporting category on your employee's pay you will have the option within the Pay Employee window to select the ETP Benefit Type. Within this window, you can select the Benefit Type and the corresponding Benefit Code. There is a brief definition of each code when selected, however, if you do require further assistance with what Benefit Type and Code to use best speak to the ATO
Note: The Benefit Code does depend on the Benefit Type selected. For example, in the above screenshot, I can have selected the Benefit Type Life selected and it has given me Code R or O I assume they are short for Redunacy or Other
