Our ATO Community is here to help make tax and super easier. Ask questions, share your knowledge and discuss your experiences with us and our Community.
I work in a retail store as a Manager; The Company I work for is using Job keeper, my question is if I have a day or Hours off as annual leave, is the 17% loading meant to be absorbed in to the $1500.00 Taxable Income as the example below, or added on to the $1500.00 Taxable Income?
X Hours Worked + $1,153.90
X Hours Annual Leave + $137.97
X Hours Stand Down Leave accrual $0.00
X Hours Total =$1,291.87+
JOBKEEPER-TOPUP + $183.99
Leave Loading + $24.14= $1,500.00 Taxable Income
Thank you for reaching out to the community.
As @MCA_Accountants has kindly said, all allowances are included in the calculation of your income before deciding whether you need a top up or not.
Referring to your example, you would receive $1,291.87 as well as a JobKeeper top up to reach the $1,500 minimum fortnightly payment. There is no need to add the leave loading as @KatieAcacia has helpfully pointed out.
All the best,
Yes - you are correct the payments that go towards making up the $1,500 (Jobkeeper amount) include salary/wages payments, and leave/annual leave loading forms part of that (see Paying your eligible employees for more details). So yes, technically it would include the leave loading to make the amount of $1,316.01 in @me51's original example. The figure of $183.99 would be still be correct for the 'top-up' payment in this case.
Tell us about your ATO Community experience and help us improve it for everyone.Provide feedback