Final pay for staff (on the employment termination)



UNUSED LEAVE x2REDUNDANCY PAYPayment in lieu of notice
DetailsCommon job for TT office

There are two types of unused leave entitlements:
  1. Annual leave
  2. Long Service Leave (LSL)

Note, only permanent staff (not casuals) are entitled to unused leave payout.

Further, for LSL entitlement:
  • this varies depending on which State/Territory you're employed in. e.g. NSW LSL is different to QLD.
  • For NSW, 
    • you must work atleast 5 years to be entitled to unused LSL payout. BUT NOT entitled to use the leave.
    • after you work 10 years, you can actually use the leave
Rare job for TT office.

Here there are 2 types of redundancy (each with different tax treatment)
  • genuine
  • non-genuine


You will also have to check whether the employer is required to pay out redundancy or not.

Read more here


Common job for TT office.

Note,


Read more here


Gross paypay out:
  • LSL
  • Annual leave + loading


No sick leave is to be paid out UNLESS specified in their award or registered agreement & certain conditions are met:
  • an agreement is made in writing for the leave to be cashed out
  • the employee has at least 15 days of unused paid sick or carer’s leave left after cashing out
  • employee is paid the full amount they would have been paid if they actually took the leave
see link here


see link here


ETP

&

Tax treat - ment
ETP & Tax treatment depends if its
  • type 1 or type 2;
  • and when was the employment start date


Read here to see if LUMP SUMs is applicable


ETP & Tax treatment depends if its: 
  • genuine 
  • or non-genuine redundancy

Links:

always ETP


Tax treatment depends on 


Super

Last modified: 01 Mar 2018
QC 33860
Non-OTE = no super
(regardless if its ETP or not)
Non-OTE = no superOTE = super
Job Keeper


Depends if its ETP or notDepends if its ETP or notFrom 8 June onwards (Last modified: 19 Jun 2020 QC 63000),
ETP gets no reimbursement from JK
Last modified: 06 Aug 2020 QC 62135





Reference

https://www.fairwork.gov.au/emails/communications/1-nov-2018-award-changes-payment-on-termination-standard-clauses?g=6cb246d6-e457-470b-894a-c2789c42ac4c

the preservation age

the preservation age 

the preservation age

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