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Beneficiary Explained (Payee Master File)
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🎯 Beneficiary is the forth section within the Taxation and Medicare Details Accordion and is used when the Payee has passed away, where payment is required to their beneficiary.

 

 

Type of Beneficiary defines the person or entity your Payee has named in their will or insurance policy to receive the death benefit payment.

 

STP Payee Payroll ID: Unique Payee Identifier which may differ from the Payee Code. Typically alphanumeric. (Aa - Zz, 0 - 9).

 

Beneficiary TFN:  Unique Identifying Number assigned to the Beneficiary by tax authorities OR an Exemption Number (Trustee ONLY) if the Beneficiary has not provided their TFN.

Tax Treatment:  Tax Treatment assigned within the Beneficiary 
 

Tax Treatment Code: Tax Treatment Code assigned within the Beneficiary.

 

Employment Basis: Employment Basis within the Beneficiary 

 

Birthdate: Day, Month and Year the Beneficiary was born.

 

Commenced is used to define the date the Payee/Payer relationship began.

 

First Name: Name provided to the Beneficiary at birth OR Part of the Legal Entity Name (Trustee).

 

Family Name: Name provided to the Beneficiary at birth OR Part of the Legal Entity Name (Trustee).

 

Address, including Suburb / Town, State, Post Code and Country: The physical location of the Beneficiary.

 

Email: Electronic Mail Address for the Beneficiary.

 

Phone: Telephone Contact Number of the Beneficiary.

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