This tutorial demonstrates how to enter death benefit details on an Eligible Termination Payment (ETP) to comply with the ATO requirements. For further information on entering termination payments, refer to How to enter a Termination Payment (tutorial).
Australian Taxation Office (ATO) requires that you record beneficiary’s details when paying out a death benefit. You must record such details as beneficiary’s name, address and Tax File Number (TFN).
You may enter the termination payment either as a time sheet, or as an adjustment pay.
To enter the death benefit details in a time sheet or adjustment pay screen:
REF: S0010 210116 3.2 SF 4418