Approving Authority:	Director Human Resources
Date of Approval:	31 May 2000
Last Amended:	March 2008
Contact Officer:	Faculty HR Consultant

Industrial references

UNSW (General Staff) Enterprise Agreement 2006

Clause 37.0, subclause (f)

"An employee who has a long service leave accrual in excess of 3 months may apply to convert part of that amount to a monetary equivalent of long service leave."

UNSW (Academic Staff) Enterprise Agreement 2006

Clause 29.7:

"(a) An employee who has a long service leave accrual in excess of 3 months may apply to convert part or all of that amount of long service leave to a monetary equivalent of long service leave.

(b) This subclause will override any provision of the New South Wales Long Service Leave Act 1955 which is inconsistent with this clause."

How to apply

Staff members can apply for the cashing out of long service leave by completing the HR104 form in RTF or PDF  format located at the Human Resources website address:

http://www.hr.unsw.edu.au/hrforms.html

When approved it will be paid through the normal fortnightly pay system, on the next available payday, subject to workload in Salaries.

Tax considerations

The amount paid out will be considered as additional earnings. Tax will be deducted at the marginal rate. The amount paid out will be included on the group certificate in the gross earnings for the year in which it is paid. A ruling from the Australian Taxation Office on this matter is on the second page of the HR104  form.

Employees are encouraged to seek independent financial advice with respect to tax implications and other financial implications of cashing out long service leave.

Inquiries

Initial inquiries may be directed to your Faculty HR Consultant.