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Re: When retiring, take my LSL as cash, or stay employed?

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I will be retiring at the end of this year, and was going to stop physically working then, but remain employed and get paid monthly while taking Long Service Leave. But now my employer wants me to be "off the books" completely by the end of this year, so I will have to take my LSL as cash in my final pay. What are the tax implications of each scenario. I'm on a salary of about $120K p.a.

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Devotee

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Depends on the nature of the "retirement" and when the amount was accrued - look here.

 

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Devotee

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Depends on the nature of the "retirement" and when the amount was accrued - look here.