Termination payments
Termination payments include the value of:
a) an Employment Termination Payment (ETP) declarable as income for the Australian Taxation Office, and
b) all paid out annual and long service leave irrespective of when it was accrued.
Golden handshakes and similar payments are considered to be an ETP.
The amount of the ETP that is liable is the part that would be included in the assessable income of an employee, director or deemed employee, if the whole of the ETP had been paid to that employee, director or deemed employee.
Summary of payroll tax liability
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More information
