Leave Loading (Cashed Out) (Incorrect Hours or Rate)
Sep 26, 2024
698
🎯 If you are unsure if this Pay Type applies to your circumstances, please refer to the Payee's Employment Contract or obtain advice from either the Australian Taxation Office or Fair Work Ombudsman.
Leave Loading (Cashed Out) (Incorrect Hours or Rate) is applicable when the Payee was underpaid Leave Loading (Cashed Out) in a prior pay period, either due to incorrect hours or an incorrect $ (or % of Rate Per Hour) being recorded in the Pay Run.
Leave Loading (Cashed Out) (Incorrect Hours or Rate) uses a portion of the Rate Per Hour set in the Payee Master File (17.50%) and Leave Entitlements are not applicable. Payments with this pay type are considered to be W1 (Total of Salary, Wages & other payments) and Taxable, however, they are not Ordinary Time Earnings (OTE).
