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Job Keeper and annual leave loading

I'm new

Views 1831

Replies 5

Hi

 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+

 

Additions

JOBKEEPER-TOPUP                                                     + $183.99

Leave Loading                                                               + $24.14= $1,500.00 Taxable Income                                                                                                                                                                                                 

 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 0

All allowances etc are included as "income" for working out if you get topped up

5 REPLIES 5

Most helpful response

Devotee

Replies 0

All allowances etc are included as "income" for working out if you get topped up

Devotee

Replies 0

You don't add the leave loading on top after adding JK. If after all allowances your pay is usually less than $1500, then on JK you will get $1500 pet fortnight less tax

Former Community Support

Replies 2

Hi @me51,

 

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,
Dejan

Newbie

Replies 1

Hi @Dejan 

 

Shouldn't it be $1,316.01 (including the annual leave loading $24.14) and a JK top up amount $183.99?

Would be great if you can clarify again.

Thanks for assistance!

 

Former Community Support

Replies 0

Hi @AYOwn

 

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.