Usually when an employee receives an ETP and has reached the preservation age the rate of tax is the lower rate (15% plus medicare). An ETP can generate from: 1. WILN where the application setting "Payments for Wages In Lieu of Notice will be treated as an ETP" 2. Redundacy payments treated as ETP ARITA has issued a statement attached which supercedes the aged based limit treatments. Preservation age is at least 56 years of age from 1 July 2015, and can be up to 60 years of age. Anyone born before 1 July 1960, has a preservation age of 55 years. Preservation is a restriction that prevents a member from accessing superannuation benefits until retirement or until satisfying a condition of release.