employee termination unused annual leave loading

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Experienced Cover User JackieBell
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Experienced Cover User
Australia
Experienced Cover User

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employee termination unused annual leave loading

Hi,

 

I use MYOB AccountRight. I have just had an part time employee leave to take on another job. She has 15.30 hours of unused annual leave. I am aware it is a requirement to add the annual leave loading of 17.5% onto the payment of the unused annual leave, however there is no "unused annual leave loading" category. Am I supposed to create one, or just adjust the amount (by adding the extra 17.5% calculated on the amount of unused annual leave pre-calculated by MYOB software)?

What is the best way to move forward without confusing the ATO or making a mistake?

 

Thank you very much for your feedback,

 

Kind Regards,

 

Jackie Bell

2 REPLIES 2
MYOB Moderator Tracey_H
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MYOB Moderator
MYOB Moderator

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Re: employee termination unused annual leave loading

Hi @JackieBell 

 

You can create an Unused Leave Loading payroll category to make sure it is reported correctly through STP.  These support notes may be helpful -

Create payroll categories for termination payments 

Assign ATO reporting categories 

 

You might also find this link useful in calculating PAYG on termination pays - ATO - tax table for unused leave payments 

 

Please let me know if you need further help.

 

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Experienced Cover User JackieBell
17 Posts
Experienced Cover User
Australia
Experienced Cover User

17Posts

5Kudos

0Solutions

Re: employee termination unused annual leave loading

Thank you very much, TraceySmiley Happy

Sorry for the late reply!

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