Unused Leave Loading (Genuine Redundancy, Invalidity or Early Retirement)
Sep 17, 2024
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🎯 The reporting of payments for Unused Leave Loading (Genuine Redundancy, Invalidity or Early Retirement) has not changed per the Australian Taxation Office Single Touch Payroll Phase 1 guidance. Unused Leave Loading (Genuine Redundancy, Invalidity or Early Retirement) continues to be reported under Lump Sum Type Code = R.
🎯 If you are unsure if this Pay Type applies to your circumstances, please refer to the Payee's Employment Contract or obtain advice from either the Australian Taxation Office or Fair Work Ombudsman.
Unused Leave Loading (Genuine Redundancy, Invalidity or Early Retirement) is applicable when the Payee has ceased employment due to Ill Health or Redundancy and receives a payment that relates to unused Leave Loading.
Unused Leave Loading (Genuine Redundancy, Invalidity or Early Retirement) uses a portion of the Rate Per Hour set in the Payee Master File (17.50%) and Leave Entitlements are not applicable. Payments with this pay type are considered to be W1 (Total of Salary, Wages & other payments) and Taxable, however, they are not Ordinary Time Earnings (OTE).
