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Long service leave/Annual leave calculator |
| Our 'Long service leave/annual leave tax calculator' shows you how much tax you will have to pay on your lump sum annual leave and long service leave payments. |
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| This calculator generates factual information about tax on long service leave and annual leave payments. It does not constitute a recommendation or statement of opinion about tax on long service leave and annual leave payments and is not intended to be relied upon for the purpose of making a decision in relation to a financial product. For advice about long service/annual leave tax, you should consider obtaining advice from an AMP Financial Planner. |
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| The calculator only considers a limited range of issues relevant to long service/annual leave tax. It does not consider all of your personal circumstances. |
How to use this calculator |
| 1. |
Enter personal and leave details in 'Step 1 - Enter details'. |
| 2. |
Go to 'Step 2 - Results' to see how much tax you will have to pay. |
| 3. |
Go to 'Step 3 - Next steps' for what to do next and related calculators. |
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| The calculator is based on a series of assumptions (details on which can be found below). These assumptions and your results are not guaranteed. You should check the assumptions used in this calculator as they may not be appropriate to your personal circumstances. |
Assumptions |
| 1. |
PAYG tax is calculated using the personal marginal income tax rates plus medicare levy effective from 1 July 2005 with a tax free threshold. The Medicare levy rates used does not take into account low income for singles or families. The Medicare levy surcharge has not been included in this calculator. |
| 2. |
No allowance is made for tax deductions. |
| 3. |
No allowance has been made for any leave loading which may apply. |
| 4. |
There are 260 working days in a year (5 working days per week). |
| 5. |
Tax File Number has been provided. |
| 6. |
Termination is not due to redundancy, invalidity or under an Approved Early Retirement Scheme |
| 7. |
There is no pre 18/8/1993 annual leave remaining. |
| If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts. |
What you need to know |
| The assumptions contained in, and the results obtained from, this calculator are believed to be accurate and are made in good faith. However to the extent permitted by law, we disclaim all liability to any person in respect of anything done or omitted to be done, and the consequences of such action or omission, by any such person in reliance upon any part of the information obtained using this calculator. |
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| Any person intending to act or rely on the information should check its application to the circumstances. We would recommend that you consult with your AMP Financial Planner before making any decision. |
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| Any advice contained in this calculator is provided by AMP Life Limited, ABN 84 079 300 379, AFSL No 233671. |
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| Any advice is not based on your personal objectives, financial situation or needs. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs before acting on the advice. |
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| AMP Life Limited is part of the AMP group of companies. AMP companies receive fees and charges in relation to its products as set out in the product disclosure statements. AMP employees and/or directors also receive salaries, bonuses and/or other benefits from the AMP group. |
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