Common use of Cashing Out Long Service Leave Clause in Contracts

Cashing Out Long Service Leave. Employees with 7 or more years of service may apply to cash out a portion of their accrued long service leave under the following conditions: • The application will be in writing. • Employees must have at least 9.1 weeks of long service leave remaining after they have cashed out a portion of their long service leave. • Employees may make such an application at a time/s each year designated by the Company or in conjunction with taking a period of long service leave. In considering the employee’s application, the Company will take into account the potential impact on the employee in terms of workplace health and safety. The cashed out long service leave forms part of the employee’s taxable income for the year, therefore, the Company will deduct the relevant amount for taxation purposes. Employees who cash out long service leave will have that amount of leave deducted from their balance.