Understanding your Payslip

When reading your Payslip, you will see a few key sections on the payslip:

These include:

• Payment date: When your pay is processed. When you receive the money in your account will depend on your bank.
• Pay period: The period of work for which you are being paid. This pay period is determined by your employer and could be weekly, fortnightly or monthly.
• Gross Pay: This is your gross taxable pay.
• Total Pay: This is the amount that will be paid to your bank account.
• You will also see 4 key sections including:
  • Hours:
  • This will show the Hours worked (Normal time as well as overtime or penalty rates).
  • Entitlements Accrual:
  • Accrued hours for your Entitlements such as Annual leave, Personal leave.
  • Summary:
  • Containing your current pay details including tax, non tax items, and your Net (take home amount)
  • As well as your financial year to date (total figures).
  • Superannuation:
  • You'll also have a section relating to your Superannuation.
    • This includes your Super fund details and your Super Guarantee
    • This section will also display any nominated Salary sacrifice, Personal Super Contribution or Additional Tax amounts. 

Below is an example of a Typical Payslip (click on the image to expand).

Sometimes Gross Pay requires more calculation, especially if your payslip also has:

• Paid entitlements taken such as Annual Leave or Personal leave paid.
• Allowances, because these can be taxable and non taxable.
• Deductions, these can be gross deductions (before tax) and net (after tax).
• Super salary sacrificing and personal super contributions.

Below is an example of a more detailed payslip and how the totals are calculated.

Calculating Gross Pay (click on the image below to expand)

Calculating Total Pay (click on the image below to expand)

Should you have questions about the details on your Payslip please contact your employer's payroll team.