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Death benefit employment termination payment (ETP)

Last updated 28 June 2011

A death benefit ETP is a lump sum payment which is paid to you because you are the beneficiary of a person who has died. If the ETP was paid to you as the trustee of a deceased estate, you must show the ETP on the tax return of the deceased estate, not on your personal tax return.

If you received a death benefit ETP from a deceased person's employer, the information provided on your PAYG payment summary - employment termination payment will depend on whether you were a death benefits dependant (see the definition below).

If you were a death benefits dependant, the payment summary will show only the taxable components of the ETP over $160,000. If you were not a death benefits dependant, the payment summary will show the entire taxable component of the ETP.

QC28061