Time Off In Lieu (Cashed Out) (Incorrect Rate)
Dec 13, 2024
1304
🎯 Time Off In Lieu (Cashed Out) (Incorrect Rate) does not reduce the leave balance. If the Leave Balance needs to be reduced, Time Off In Lieu (Cashed Out) (Incorrect Hours) should be used instead.
🎯 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.
Time Off In Lieu (Cashed Out) (Incorrect Rate) is applicable when the Payee was underpaid Time Off In Lieu (Cashed Out) in a prior pay period due to an incorrect $ (or % of Rate Per Hour) being recorded in the Pay Run.
Time Off In Lieu (Cashed Out) (Incorrect Rate) uses the $ (or % of Rate Per Hour) set within the Pay Rate 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).
