Common use of Cashing out annual leave Clause in Contracts

Cashing out annual leave. (a) A general employee may apply, to the employer, in writing to cash-out a proportion of their accrued annual leave instead of taking this leave and the criteria governing such an application are as follows: (i) at least four (4) weeks accrued annual leave must be retained at any point of time to use as annual leave in the usual manner; (ii) each payment of a particular amount of accrued annual leave must be by separate written agreement between the employee and the employer; (iii) the employee may apply to combine the cash-out of some annual leave with the taking of some annual leave. In this case, the time taken in annual leave may be deducted from the minimum retained four (4) weeks leave; (iv) cashing-out of annual leave may only occur once in any a calendar year; (v) the notice period required to cash-out some annual leave only is a minimum of four (4) weeks (or less by mutual agreement with the employer); (vi) the employee will seek independent financial advice prior to making application to cash-out their annual leave; (vii) superannuation at the rate the employee would have received if they had taken the leave is payable on the cashed out amount; and (viii) the employee is paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone. (b) If an application to cash out annual leave is approved, the employer will provide to the employee written confirmation of such approval. The existing arrangements for making application for annual leave would continue in the present form. (c) To avoid doubt, any agreement to cash-out annual leave in accordance with this clause can only be initiated by the employee.

Cashing out annual leave. (a) A general school officer or services staff employee may apply, to the employer, in writing to cash-out a proportion of their accrued annual leave instead of taking this leave and the leave. The criteria governing such an application are as follows: (i) at least four (4) weeks accrued annual leave must be retained at any point of time to use as annual leave in the usual manner; (ii) each payment of a particular amount of accrued annual leave must be by separate written agreement between the employee and the employer; (iii) the employee may apply to combine the cash-out of some annual leave with the taking of some annual leave. In this case, the time taken in annual leave may be deducted from the minimum retained four (4) weeks leave; (iv) cashing-out of annual leave may only occur once in any a calendar year; (v) the notice period required to cash-out some annual leave only is a minimum of four (4) weeks (or less by mutual agreement with the employer); (vi) the employee will seek independent financial advice prior to making application to cash-out their annual leave; (vii) superannuation at the rate the employee would have received if they had taken the leave is payable on the cashed out amount; and (viii) the employee is paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone. (b) If an application to cash out annual leave is approved, the employer will provide to the employee written confirmation of such approval. The existing arrangements for making application for annual leave would continue in the present form. (c) To avoid doubtFor the purpose of clarity, any agreement to cash-out annual leave in accordance with this clause can only be initiated by the employee.

Cashing out annual leave. (a) A general school officer or services staff employee may apply, to the employer, in writing to cash-cash- out a proportion of their accrued annual leave instead of taking this leave and the leave. The criteria governing such an application are as follows: (i) at least four (4) weeks accrued annual leave must be retained at any point of time to use as annual leave in the usual manner; (ii) each payment of a particular amount of accrued annual leave must be by separate written agreement between the employee and the employer; (iii) the employee may apply to combine the cash-out of some annual leave with the taking of some annual leave. In this case, the time taken in annual leave may be deducted from the minimum retained four (4) weeks leave; (iv) cashing-out of annual leave may only occur once in any a calendar year; (v) the notice period required to cash-out some annual leave only is a minimum of four (4) weeks (or less by mutual agreement with the employer); (vi) the employee will seek independent financial advice prior to making application to cash-out their annual leave; (vii) superannuation at the rate the employee would have received if they had taken the leave is payable on the cashed out amount; and (viii) the employee is paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone. (b) If an application to cash out annual leave is approved, the employer will provide to the employee written confirmation of such approval. The existing arrangements for making application for annual leave would continue in the present form. (c) To avoid doubtFor the purpose of clarity, any agreement to cash-out annual leave in accordance with this clause can only be initiated by the employee.

Cashing out annual leave. (a) A general school officer or services staff employee may apply, to the employer, in writing to cash-out a proportion of their accrued annual leave instead of taking this leave and the leave. The criteria governing such an application are as follows: (i) at least four (4) weeks accrued annual leave must be retained at any point of time to use as annual leave in the usual manner; (ii) each payment of a particular amount of accrued annual leave must be by separate written agreement between the employee and the employer; (iii) the employee may apply to combine the cash-out of some annual leave with the taking of some annual leave. In this case, the time taken in annual leave may be deducted from the minimum retained four (4) weeks leave; (iv) cashing-out of annual leave may only occur once in any a calendar year; (v) the notice period required to cash-out some annual leave only is a minimum of four (4) weeks (or less by mutual agreement with the employer); (vi) the employee will seek independent financial advice prior to making application to cash-cash- out their annual leave; (vii) superannuation at the rate the employee would have received if they had taken the leave is payable on the cashed cashed-out amount; and (viii) the employee is paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone. (b) If an application to cash out annual leave is approved, the employer will provide to the employee written confirmation of such approval. The existing arrangements for making application for annual leave would continue in the present form. (c) To avoid doubtFor the purpose of clarity, any agreement to cash-out annual leave in accordance with this clause can only be initiated by the employee.