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RobynHDC's avatar
RobynHDC
Contributing User
2 years ago

Long Service Leave

I have a casual entitled to a LSL payout. 17years service. Do I pay superannuation on the lump sum? Do I use base rate of pay or use the higher rate including casual loading? Will the  tax calcula...
Doreen_P's avatar
Doreen_P
MYOB Moderator
2 years ago

Hi, RobynHDC

 

Thanks for your post.

 

If an employee is entitled to a long service leave payout, it is best to speak with your accountant if a superannuation is needed to be paid. Also, if you need to use the base rate or a higher rate. As long as the information entered on your tax table is correct, then the tax will be calculated correctly. However, we still highly recommend speaking with your accountant for more information about this.

 

Best regards,

Doreen

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