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As an employer, you work out super guarantee. Employers must pay at least 12% of your ordinary time earnings. But super isn't paid when unused annual leave is part of a lump sum payment when your employment ends.
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What about other types of leave, like sick leave and personal leave? As an employer, you use: Long service leave (lsl) payments also fall under the ote definition,.
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Annual leave loading is an extra payment that may be paid to an employee on top of their base rate during periods of annual leave.
That’s at least 12% of your ote that you could be missing out on. Personal leave, also known as sick leave, is treated identically to annual leave and is classified as ote. Lump‑sum termination amounts such as unused annual leave, unused long service leave, redundancy pay and most etps (including ex‑gratia payments and unused rdos where. Employer contributions to superannuation are made on regular salary payments, which include any paid leave.
One of the biggest drawbacks of taking long service leave as a lump sum payment is not receiving sg contributions. If you pay annual leave loading as part of a lump sum for unused annual leave at termination, that loading typically follows the same treatment as the unused annual leave. Leave taken while employed attracts employer. Use this list to work out which payments count as ordinary time earnings (ote) or salary and wages for super guarantee.
However, if you opt for a lump sum payment for your unused leave, these.
In this case terminating employment and taking leave as a lump sum may be preferred to extending their employment by taking leave.
