Cashing out annual leave. The employee may, with the agreement of the employer, request in writing, to cash out up to two weeks of their annual leave during each 12 month period. Annual leave cannot be cashed out in advance of it being credited to the employee. Cashed out annual leave will be paid at the rate of pay that the employee receives at the time when the request is made.
Cashing out annual leave a) The employee may, with the agreement of the employer, request to cash out up to 1/26th of nominal hours worked over a 12 month period of their annual leave during each 12 month period.
b) Annual leave cannot be cashed out in advance of it being credited to the employee.
c) The cashing out of paid annual leave must be authorised by the employer.
d) Employees must apply to the employer in writing to cash out any part of their accrued annual leave. The employee’s form for election to cash out annual leave is prescribed in Schedule 4.
Cashing out annual leave. Annual leave may be cashed out by agreement between the Company and an Employee, subject to the following conditions: ▪ An Employee must elect in writing to cash out annual leave; ▪ An Employee must not cash out more than two (2) weeks annual leave in each twelve (12) month period; ▪ The Company must agree to the Employee cashing out their annual leave.
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) An employee may be paid in lieu of taking annual leave, but only in the following circumstances:
(b) For any leave which was available to the employee at 26 March 2006, the limit of 2 weeks in any year able to be cashed out will not apply.
Cashing out annual leave. (a) An Employee may “cash out” an amount of annual leave credited to the employee (in lieu of the amount of annual leave) subject to the following:
(i) No more than ten (10) days of accrued annual leave may be “cashed out” in any 12 month period.
(ii) Notwithstanding the above, an Employee’s “bank” of annual leave accrued must never fall below twenty (20) days (pro rata for part time).
(iii) On each occasion the Employee wishes to “cash out” an amount of annual leave, the Employee must advise the Employer in writing, of the Employee’s election to “cash out” an amount of annual leave and the amount of annual leave to be “cashed out”.
(b) Any annual leave that is “cashed out” will be paid at the rate ordinarily paid for annual leave.
(c) Superannuation guarantee contributions and annual leave loading will also be paid in respect to any amount of “cashed out” annual leave.
Cashing out annual leave. 18.2.1 An employee may request and/or agree to receive pay in lieu of taking annual leave under this agreement only in the following circumstances where:
(a) the employee gives the Company a written request to cash out leave; and
(b) the Company must authorise the cashing out;
18.2.2 During each 12 month period, an employee is entitled to cash out an amount of annual leave accrued equal to 1/26th of the nominal hours worked during that period.
Cashing out annual leave. (1) An employee may, with the approval of the Secretary, cash out a portion of the employee’s annual leave credit on 1 occasion each financial year.
(2) Annual leave credit cannot be cashed out if the cashing out would result in the employee’s remaining accrued annual leave entitlement being less than 4 weeks.
(3) Each cashing out of a particular amount of annual leave credit must be by a separate agreement in writing between the Secretary and the employee.
(4) If an employee cashes out annual leave, the employee will be paid the full amount that would have been paid to the employee had the employee taken the leave that the employee has forgone.
Cashing out annual leave. 20.5.1 Australia Post may agree to cash out part of an employee’s accrued annual leave provided that in each case:
(a) the employee’s remaining accrued entitlement to paid annual leave is not less than 6 weeks (or 4 weeks in the case of a seven day shift worker); and
(b) each cashing out must be the subject of separate agreement in writing between Australia Post and the employee; and
(c) the employee must be paid at the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone; and
(d) each request to cash out is made only once per calendar year in accordance with Australia Post procedures.
Cashing out annual leave. In situations of financial hardship an employee may elect to be paid in the form of a lump sum payment for part of their annual leave entitlement provided that the employee retains a balance of at least four (4) weeks annual leave.
