a tax question..

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Jun 29th 2010, 3:50 am

#16

sassie

BE Forum Addict

Joined: Apr 2003

Location: Jacobs Ridge, Gold Coast

Posts: 1,140

Re: a tax question..

Quote:

Originally Posted by RenShen

What is leave loading?

Without providing you with a too technical an answer, its basically an extra benefit when you take annual leave. You get paid an extra 17.5%, but like otherse have said, not all employees pay it.

Jun 29th 2010, 10:48 am

#17

ABCDiamond

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Posts: n/a

Re: a tax question..

Quote:

Originally Posted by RenShen

So when you are on holidays you get a higher rate of pay? That does sound odd.

It was originally designed to compensate for the lack of overtime, and shift bonuses, whilst on holiday, so that people received about the same as they would during a normal week. Not to actually give them extra.

Hence why I didn't expect salaried workers to be getting it.

Jun 29th 2010, 11:04 am

#18

RenShen

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Joined: Sep 2007

Location: Helensvale - yipeeeeeeeee!!

Posts: 1,331

Re: a tax question..

Quote:

Originally Posted by ABCDiamond

Thanks for the explaination, that makes much more sense.

Jul 5th 2010, 5:52 am

#19

paddyo

Social Grenade Thrower

Joined: Jan 2008

Location: South Coast, NSW

Posts: 3,625

Re: a tax question..

Quote:

Originally Posted by roaringmouse

The ATO tax tables would help to give a more exact answer.

Ah...they worked for me!! Spot on!!! Those figures came up with exactly the Tax she is paying now!! cheers!

Jul 5th 2010, 5:53 am

#20

paddyo

Social Grenade Thrower

Joined: Jan 2008

Location: South Coast, NSW

Posts: 3,625

Re: a tax question..

Quote:

Originally Posted by katietops01

There are too many variables for anyone to answer this. Try here: http://www.ato.gov.au/scripts/taxcalc/calculate_tax.asp and you can fill in your personal circumstances to make it more accurate.

Sorry, it was this one that didn't work for me!!!