Important: You can edit only the Retirement age value.

Start date

01/07/2016

Read-only. Date from which these ETP settings apply.

End date

blank

Read-only. Date up to which these ETP settings apply.

Retirement age

65

Editable field, company-wide value. Used for calculating length of service for early retirement terminations. Most Australians qualify for retirement when they are 65 years old. However, you can edit this field value because company contracts may override the national retirement age.

Tax free limited to

9,780

Read-only. Bona-fide redundancy and early retirement payments that are not ETPs are tax-free up to a limit based on the number of years the employee has worked for their employer. This field defines the flat dollar amount of this tax-free limit.

Plus per completed year

4,891

Read-only. The tax-free limit is the flat dollar amount plus the amount defined in this field for each year of completed service in the employee’s period of employment with their employer.

Low rate threshold

195,000

Read-only. The total cash amount of post-June 1983 components that employees can receive in a lifetime, taxed at the lower rates for ETP.

Resident no TFN rate amount (%)

49.00

Read-only. Tax rate applied to residents who have not supplied a valid Tax File Number (TFN).

Non-resident no TFN rate amount (%)

47.00

Read-only. Tax rate applied to non-residents who have not supplied a valid Tax File Number (TFN).

Whole-of-income cap amount

180,000

Read-only. Depending on the type of ETP, the concessional tax treatment is limited to the smaller of the ETP cap (Low rate threshold) and the whole-of-income cap. Amounts paid in excess of these caps are taxed at the top marginal rate (plus Medicare levy).