Annual Leave and Loading is used when an Employee is taking a portion of their Annual Leave entitlement and is used in lieu of Award Rate. These payments will be taxed at the marginal rate, which is the same tax rate as their NORMAL Pay.
All payments made using this type will be calculated using the base rate (multiplied by 117.50%), from the following sections, in the following priority;
- The Employees Advanced Pay Set Up unless Calculate Base Rate on Advanced Pay Settings is selected,
- The Employees Special Award Rate,
- The Employees Hours paid at $ in their Award & Agreement.