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Taxation of your unused leave when leaving a job

Posted on January 20, 2021 by admin

When your job ends, whether there has been a termination of employment or redundancy you will receive a payment for unused leave. This payment will be taxed differently from your normal income. 

The taxation will vary depending on the reason why you left the job and any unused entitlements that have been accrued over your employment (long service leave or sick leave). 

Lump sum payments that you receive for unused annual leave or unused long service leave are taxed at a lower rate than other income. These lump sum payments will appear on your income statement or payment summary as either ‘lump sum A’ or ‘lump sum B’. 

These payments may also be taxed differently if you lost your job as a result of Covid-19.

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Signs of unauthorised and mistaken transactions

Posted on February 24, 2021 by admin

When checking through your transactions, you might come across a transaction that doesn’t look right. If this is the case, you should get into contact with your bank as soon as possible. 

An unauthorised transaction: Money transferred from your account without your permission

A mistaken transaction: Paying the wrong person by using the wrong details

Here are the signs to look out for to identify unauthorised or mistaken transactions:

But keep in mind:

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