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  1. #1
    Join Date
    Sep 2014
    Location
    Sydney
    Posts
    1

    Default annua leave accrual amount

    Hi,

    Is the super contribution included in the calculation for annual leave accrual amount?

    Thanks!

  2. #2
    Join Date
    Feb 2012
    Location
    Queensland
    Posts
    56

    Default

    Quote Originally Posted by jessicam View Post
    Hi,

    Is the super contribution included in the calculation for annual leave accrual amount?

    Thanks!
    Funny.... I would say no, but during recent audit the auditors made us account for it!

    Superannuation is not payable when you pay unused annual upon termination, so not 100% convinced they are correct....

    So it might be a company policy or a questions for your auditors.

  3. #3
    Join Date
    May 2010
    Location
    Melbourne
    Posts
    151

    Default

    2 things to take into account:

    Is your employees employed on a package basis? If so then yes it needs to be included as it gets paid out at the package rate whether taken or on termination regardless

    As for the auditors, the correct process would be to historically show some basis of how much annual leave is paid out and how much is taken at termination and apply that percentage with the super amount, leaving the portion you expect to pay out on termination without a super accrual. Hit the auditors for a six and ask them how much do they believe should be accrued as non current liability, very few of them ever get this part right either

  4. #4
    Join Date
    Feb 2012
    Location
    Queensland
    Posts
    56

    Default

    Quote Originally Posted by Cottoneyes View Post
    Hit the auditors for a six
    Without hijacking the thread.... I always find that auditors are never very knowledgeable with regards to anything payroll related.

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