A GUIDE TO WEIRD PAYROLL ACRONYMS & OTHER RELATED FANDANGLED DEFINITIONS

Here are some of the abbreviations, initials and other payrolly-words that appear in Paycycle. If there are others you would like to see here (that relate to payroll or are included in the software), feel free to email support@paycycle.com.au with your request and we’ll happily add them to this guide.

Happy Learning!

BSB

A BSB is a Bank/State/Branch number.  It is used for the purpose of abbreviating a customer's bank information. If you don’t know your BSB number, you can check it at bsbnumbers.com.

FBT

FBT stands for Fringe Benefit Tax, which is a benefit you have provided to an employee because they are just that—an employee of your organisation. Benefits include rights, privileges or services. For further information go to the ATO page. 

SGC

SGC is the Superannuation Guarantee Charge. Every employer is required to pay it on their employee’s behalf to a complying superannuation fund at least quarterly.

SPIN

SPIN stands for Superannuation Product Identification Number. This number is the standard identification for superannuation funds. If you are not sure about your fund’s SPIN, go to spindirectory.com.au.