A pay cycle refers to the frequency with which employees are paid by their employer.
Common pay cycles include weekly, fortnightly (every two weeks), or monthly payments.
For example, in a weekly pay cycle, employees receive their wages every week on a designated day, such as Friday.
The choice of pay cycle can impact various processes like payroll tax calculations, Single Touch Payroll (STP) submissions, and superannuation contributions.
Employers must establish clear pay cycles to ensure timely and accurate compensation for their employees.
