Day 6: Payroll Command Centre
Key terms and concepts
• PAYG withholding: pay as you go withholding refers to the amount a business is obliged to withhold from the salary of its employees and remit to the ATO.
• Annual leave: a period of paid time off work that permanent employees are legally entitled to. In Australia most full-time employees are entitled to four weeks’ annual leave after being employed for 12 months.
• Personal leave: paid time off work on account of illness or for personal reasons (such as bereavement or illness of a family member). Personal leave is an employee entitlement, but the amount varies according to the regulations that apply to different types of employment.
• Superannuation guarantee charge (SGC): the contribution ...
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