Rostered Days Off (Banked) Explained (System Default Pay Rate)
Sep 26, 2024
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🎯 The reporting of payments for Rostered Days Off (Banked) has not changed per the Australian Taxation Office Single Touch Payroll Phase 1 guidance. Time Off In Lieu (Banked) continues not to be reported until one of the following Pay Types is selected;
- Rostered Days Off.
- Rostered Days Off (Cashed Out).
- Unused Rostered Days Off (Equal to or less than the Cap).
- Unused Rostered Days Off (More than the Cap).
- Death Benefit Rostered Days Off (Tax Free).
- Death Benefit Rostered Days Off (Equal to or less than the Cap).
- Death Benefit Rostered Days Off (More than the Cap).
- Rostered Days Off.
- Rostered Days Off (Cashed Out).
- Unused Rostered Days Off (Equal to or less than the Cap).
- Unused Rostered Days Off (More than the Cap).
- Death Benefit Rostered Days Off (Tax Free).
- Death Benefit Rostered Days Off (Equal to or less than the Cap).
- Death Benefit Rostered Days Off (More than the Cap).
🎯 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.
Rostered Days Off (Banked) is applicable when there is a written agreement to allow ordinary time worked to be banked as Rostered Days Off, allowing the Payee to take paid time off instead of being paid ordinary time.
For example, under the following Awards, the Payee and the Payer may agree in writing for the Payee to take time off instead of being paid for a particular amount of ordinary time that has been worked;
Rostered Days Off (Banked) uses the Quantity entered in the Pay Run to increase the Rostered Days Off Balance and are not considered to be W1 (Total of Salary, Wages & other payments), Taxable or Ordinary Time Earnings (OTE).
