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GI Long Service Leave Calculator Version 5.2Calculating Long Service Leave Termination Entitlements -
Do you find complying employee industry awards and taxation requirements confusing calculating termination payments lieu of Long Service Leave. ( For taxation assistance, click HERE to view and download Australian Taxation Office information on How to withhold amounts from unused leave payments on termination of employment' ) Calculate Long Service Leave Award entitlements in secondsMost other Long Service Leave Calculators allow you calculated the long service leave entitlements for a single industry award. Now, GI Long Service Leave Calculator allows you to calculate Long Service Leave entitlements and Eligible Termination Payments across any number of different awards. Whilst 'Long Service Leave Calculator' can calculate LSL payment entitlements in seconds, Australia's often changing Tax Rates make it difficult to calculate the with-holding tax payable on those payments at a given point in time. 'Marginal PAYG Tax' rates (including various levies) change annually but are readily available from the Australian Taxation Office (ATO) website in the form of Weekly, Fortnightly and Monthly PAYG tax tables. In spite these complications, and by using the appropriate ATO PAYG tax tables, in cases where LSL termination payments are due to standard retirement, resignation or termination 'Long Service Leave Calculator' can quickly calculate the with-holding tax amount for you. By using the correct 'Pay as you go (PAYG) with-holding tax tables for the appropriate year and your employee's tax circumstances, you can quickly and easily calculate not only your employee's payment entitlements, but also the amount of tax that should be withheld. Of course any results provided by the 'Long Service Leave Calculator' must be checked by your accountant or tax professional before being relied upon - See User Obligations below. So how does Long Service Leave Calculator work ?Start the 'Long Service leave Calculator' and enter your employee's Long Service Leave Award details from those provided (If your employees Long Service Leave Award is not already in the list it takes only a few minutes to add it.) Enter their dates of employment, leave history and current salary and LSL will calculate any outstanding LSL payments due to the employee. Where the employees is entitled to the payment due to standard retirement, resignation or termination reasons, you can also calculate the tax payable by entering the appropriate (weekly, fortnightly or monthly) PAYG tax amounts which is readily available from the relevant ATO PAYG tax table.
User
Obligations - Use of the GI Long Service Leave Calculator does
not relieve you of your obligations under the law or taxation
legislation. B |
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