AROUND two million Australian workers can now “cash out” some of their excess annual leave under new rules that came into effect in August.
Under the new clauses, inserted by the Fair Work Commission into 112 modern awards earlier this year, employees can cash out two weeks’ worth of accrued annual leave every 12 months, provided they still have four weeks remaining afterwards.
The employee and the employer must agree to the payout in writing, and the amount must not be less than would have been payable had the leave been taken at the time the payment is made.
This article appeared in our August 2015 newsletter.
