ATO Filing and Record Keeping Regulations

When you distribute ETPs to employees, you are required to submit information regarding those payments to the ATO. In addition, the ATO also requires that you store detailed records of termination payments.

If you distribute ETPs to employees, you must submit ETP payment summaries to the ATO along with the annual Pay As You Go (PAYG) tax filing information. If the cash portion of an ETP exceeds a certain amount, as specified by the ATO, you must also submit a Reasonable Benefit Limits (RBL) form. RBL forms should be filed monthly with the ATO.

In addition to submitting information to the ATO, the organization is also required to keep detailed records regarding termination payments.

Important: All of the information regarding ATO regulations for ETP filing and record keeping is believed to be current at the time of publication. However, due to periodic changes in tax regulations, you should contact the ATO for the most current regulatory information for ETP processing. Noncompliance with current tax regulations can result in fines to the organization.