Cashing out annual leave for high income employees
High income employees can make an agreement to be paid for some of their annual leave instead of taking it. This can be done if:
- the agreement is in writing
- the employer pays the employee the same amount the employee would get if they had taken the leave
- the employee has at least 4 weeks left in their leave balance after the rest is cashed out.
- section 12 says that an award/agreement free employee is one to whom neither a modern award nor enterprise agreement applies
- section 47(2) says that modern awards don't apply to high income employees
- section 94 says how annual leave can be cashed out by award/agreement free employees
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