Termination Summary

Form ID: MPPP6090

You can open the Termination Summary report from the Employee's Current Pay form (MP.PP.31.30), by clicking the three dots icon (...) and choosing Termination Summary.

The report shows how the inserted pay items have been treated according to government legislation. You can provide this report to a terminated employee for their information.

Non Employment Termination Payments

This section includes all tax-implicated pay items in the current pay that are not in the other sections, including custom payments for unsupported termination scenarios. The YTD Taxable is used in the Whole of Income Cap calculation.

Employment Termination Payments

This section includes three subsections:

• Unused AL/LSL – unused annual leave, annual leave loading, and long service leave payments. These payments are taxed using Schedule 7, and are used in the Whole of Income Cap calculation.
• Genuine Redundancy Payments – all ETP pay items marked as excluded payments on the Termination window. The tax free components are calculated on the total excluded payments. The net taxable is subject to the ETP cap for determining the amount qualifying for a concessional tax rate. The employee's preseveration age and pension age are taken into consideration.
• Other payments – all ETP pay items that are not marked as excluded payments on the Termination window. The tax-free components are calculated on the total non-excluded payments. The net taxable is subject to the lesser of the Remaining ETP cap and the Whole of Income cap for determining the amount qualifying for a concessional tax rate. The employee's preservation age is taken into consideration.

Caps

This section includes the calculation of the Remaining ETP and Whole of Income caps. The lesser cap is indicated. The letters in brackets cross-reference the source in the main body of the report.