About Standard Employment Termination Payments (Australia)
(Australia only) Within Vista a number of Employment Termination Payments (ETP) types are considered standard.
The standard designation is used only to group ETP types together that are processed and taxed in a similar fashion.
Prior to processing these ETP types, you will need to:
- Create an earnings code and corresponding deduction code for all standard ETP types.
- Create an earnings code and corresponding deduction code for each standard
ETP in the case that an employee is terminated due to redundancy/early retirement.
This is unnecessary for unused RDO ETPs, however. Important: In order for the ETP deduction to be calculated during payroll processing, you must also enter this deduction code in the DLCode column of the PR Federal Info form (Add'l Federal Based Dedns/Liabs tab).
Additionally, you can have the system automatically generate a PR timecard for some of the ETP types. The other ETP types require you to enter a timecard manually as Vista does not store the information to automatically generate a payment for you. The following figure shows the list of both types of standard ETP types.