Payee Type (75/PT)

You use payee type codes to specify the type of person or entity that is receiving an eligible termination payment (ETP) when an employee in an Australian organization is terminated due to death. The system uses these codes to determine the tax rate that is applied to the ETP. The tax rate partially depends upon the entity that is receiving the payment. For example, the ETP is taxed at one rate if payment is made to a dependent and at another rate if a payment is made to non-dependent.