ETP – Life Benefit (47%)

e-PayDay® Payroll Software - ETP Life Benefit 47% (Default Pay Rate)

ETP – Life Benefit (47%) is used as part of a Cessation (Termination) Pay Run, where an employee is being ‘paid out’ any payment that does not fall under another Cessation / Termination Pay Rate Type. Any payments made using this type will be taxed at the relevant rate, which is dependant on the Payment Type Code that is entered. Generally speaking, Superannuation (OTE) and Accruals (Annual, Personal, Long Service, RDO’s and TIL) do not accumulate on Cessation (Termination) Leave Pay Types.

All payments made using this type will be calculated using the base rate, from the following sections, in the following priority;

  1. The Employees Advanced Pay Set Up unless Calculate Base Rate on Advanced Pay Settings is selected,
  2. The Employees Special Award Rate,
  3. The Employees Hours paid at $ in their Award & Agreement.
  4. Alternatively, the Pay Type can be edited to set the rate or simply changed by entering the rate during a Pay Run.
Revision: 2
Last modified: Feb 15, 2021