UNUSED ANNUAL LEAVE PAYOUT
what is the best way to work out the tax applicable on paying out unused annual leave?
Hi Embodyhealth
Thanks for your post. PAYG Withholding on unused leave needs to be calculated using the ATO method applicable to what the leave is made up of, the reason for the payment and when leave was accrued.
This link to the ATO website has full instructions for calculating PAYG Withholding: Unused annual leave
Please let me know if you need further help.
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