There are seven Pay Rates in the Adjustments category,
Bonus applies when the Payee is being paid a bonus related to performance within regular hours or a once-off payment, such as a Christmas Bonus, which needs to be taxed over the entire Financial Year.
The reporting requirements for Bonus have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Bonus is now reported under Bonuses and Commission (PAYEVNTEMP262).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments) and OTE (SGAA). PAYGW is calculated per Schedule 5, Method (B (ii).
The value of these transactions is stored in the Payee Master File, within Bonuses and Commissions in Taxation Balances (Year to Date).
Bonus (Marginal Tax) applies when the Payee is being paid a bonus related to performance within regular hours or a once-off payment, such as a Christmas Bonus, which needs to be taxed over a single Pay Period.
The reporting requirements for Bonus (Marginal Tax) have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Bonus (Marginal Tax) is now reported under Bonuses and Commission (PAYEVNTEMP262).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments), OTE (SGAA) and Qualifying Earnings (QE). PAYGW is calculated per the Marginal Tax Rate (Payee Tax Treatment Code).
The value of these transactions is stored in the Payee Master File, within Bonuses and Commissions in Taxation Balances (Year to Date).
Commission applies when the Payee is being paid a bonus that relates entirely to a Commission payment, which needs to be taxed over the entire Financial Year.
The reporting requirements for Commission have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission is now reported under Bonuses and Commission (PAYEVNTEMP262).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments) and OTE (SGAA). PAYGW is calculated per Schedule 5, Method (B (ii).
The value of these transactions is stored in the Payee Master File, within Bonuses and Commissions in Taxation Balances (Year to Date).
Commission (Overtime) applies when the Payee is being paid a bonus that relates entirely to a Commission payment, which needs to be taxed over the entire Financial Year.
The reporting requirements for Commission have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission is now reported under Overtime (PAYEVNTEMP263).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments) and OTE (SGAA). PAYGW is calculated per Schedule 5, Method (B (ii).
The value of these transactions is stored in the Payee Master File, within Overtime in Taxation Balances (Year to Date).
Commission (Marginal Tax) applies when the Payee is being paid a bonus that relates entirely to a Commission payment, which needs to be taxed over a single Pay Period.
The reporting requirements for Commission (Marginal Tax) have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission (Marginal Tax) is now reported under Bonuses and Commission (PAYEVNTEMP262).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments), OTE (SGAA) and Qualifying Earnings (QE). PAYGW is calculated per the Marginal Tax Rate (Payee Tax Treatment Code).
The value of these transactions is stored in the Payee Master File, within Bonuses and Commissions in Taxation Balances (Year to Date).
Commission (Overtime, Marginal Tax) applies when the Payee is being paid a bonus that relates entirely to a Commission payment, which needs to be taxed over a single Pay Period.
The reporting requirements for Commission (Overtime, Marginal Tax) have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission (Overtime, Marginal Tax) is now reported under Bonuses and Commission (PAYEVNTEMP262).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments) and OTE (SGAA). PAYGW is calculated per the Marginal Tax Rate (Payee Tax Treatment Code).
The value of these transactions is stored in the Payee Master File, within Overtime in Taxation Balances (Year to Date).
Overtime Bonus applies when the Payee is being paid a bonus related to Performance outside regular (overtime) hours, which needs to be taxed over the entire Financial Year.
The reporting requirements for Overtime Bonus have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission is now reported under Overtime (PAYEVNTEMP263).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments); however, they are not OTE (SGAA). PAYGW is calculated per Schedule 5, Method (B (ii).
The value of these transactions is stored in the Payee Master File, within Overtime in Taxation Balances (Year to Date).
Overtime Bonus (Marginal Tax) applies when the Payee is being paid a bonus related to Performance outside regular (overtime) hours, which needs to be taxed over a single Pay Period.
The reporting requirements for Overtime Bonus (Marginal Tax) have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Overtime Bonus (Marginal Tax) is now reported under Overtime (PAYEVNTEMP263).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments); however, they are not OTE (SGAA) or Qualifying Earnings (QE). PAYGW is calculated per the Marginal Tax Rate (Payee Tax Treatment Code).
The value of these transactions is stored in the Payee Master File, within Overtime in Taxation Balances (Year to Date).
Return to Work applies when the Payee is being paid a bonus to encourage them to return to the employer, end industrial action and have employees resume work or withdraw their resignation.
The reporting requirements for Return to Work have changed per the Australian Taxation Office Single Touch Payroll Phase 2 guidance. Commission is now reported under Lump Sum W (PAYEVNTEMP224).
Payments with this Pay Rate use the $ (or % of Rate Per Hour) set within the Pay Rate, and Leave Entitlements are not applicable. These payments are considered W1 (Total of Salary, Wages, and other payments) and OTE (SGAA). PAYGW is calculated per Schedule 4.
The value of these transactions is stored in the Payee Master File, within Lump Sum (Type W) in Taxation Balances (Year to Date).