Should I cash out my annual leave before or after EOFY?

V

vincpixrecy

New Member
Hey everyone, is there a right time to trade in annual leave for cash?

My workplace offered to buy out my leave, and I'm thinking about doing it to pay off some debts, invest, and also fund a holiday.

I'm just wondering—is it better to do it before or after the end of the financial year? Or does it not really matter either way?

I've got abo ut two months' worth of leave I'm looking to cash out (and I'd still have some left over). I'm on just over 100k a year.
 
Cashing out annual leave? Yeah, it has downsides. You get cash. But the tax eats into it. Your super loses out. Company doesn’t have to pay super on cashed out leave. Like they would if you just took the time off. Lose leave loading too, if you get it. And it might mess with government assistance. Or your wife’s payments. Or childcare subsidy. It’s a trade off. A raw one.
 
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