myTax 2018 Employment termination payments

This section is about employment termination payments (ETPs), which you received as a result of the termination of your employment.

These payments are shown on a PAYG payment summary – employment termination payment.

This section also includes:

• death benefit ETPs; these are certain payments made as a consequence of the cessation of a person's employment that you received due to that person's death
• foreign ETPs; these are certain ETPs received from overseas employment which were exempt from income tax under that country's law
• late termination payments; these are certain ETPs you received more than 12 months after you retired or ceased employment.

Do not show the following payments anywhere on your tax return:

• foreign termination payments; these are certain termination payments that were not exempt from income tax of the foreign country
• ETPs you received as the trustee of a deceased estate; these payments must be shown on the trust tax return of the deceased estate
• departing Australia superannuation payments.

Completing this section

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

You will need your PAYG payment summary – employment termination payment.

If you do not have all your payment summaries, contact your employer or payer. If you are unsuccessful in obtaining any of these, see Lost or missing PAYG withholding payment summary.

If you have received a foreign ETP, your foreign employer may not have issued you with a PAYG payment summary - employment termination payment.

We have pre-filled your tax return with payment summary information provided to us. Check for ETPs you received that are not pre-filled and ensure you add them.

1. For each payment summary that has not been pre-filled in your tax return, or each foreign ETP, select Add.
2. Answer the question Is this an Australian ETP?
3. Enter information from your PAYG payment summary – employment termination payment into the corresponding fields.
   If you indicated this is not an Australian ETP, you will need to select Country employed in. This foreign ETP will not be included in the myTax calculation of taxable income and the myTax estimate will not match the assessment issued by us.
4. Select the Employment termination payment code. If your PAYG payment summary – employment termination payment does not have a code, contact the employer or payer. If you are unable to contact the employer or payer, select the code that best describes your payment using the ETP code descriptions below.
5. Select Save.
6. Select Save and continue.

ETP code descriptions