As seen in Woopi News March 2022
The NSW Long Service Corporation administers the scheme which provides portable long service benefits to eligible workers in the building and construction industry. The allows eligible workers to accrue leave while working for different employers or as contractors working on an ABN. The long service leave benefit is funded by a levy charged on building and construction works in NSW. The levy is collected by the corporation and invested until required to fund long service payments.
If you are an employee, your employer is required to be registered and record your service each year. If you are self employed you are responsible for ensuring the lodgements are kept up to date. Your accountant can assist with lodging your annual certificate of service each year after they have prepared your Tax Return. If you are self employed and not registered with the NSW Long Service Corporation, you can backdate your registration for up to two years.
When you have accrued 10 Years of service, you have three choices:
- If the service was accrued working for a single employer, you can take up to two months leave paid by your employer. The employer can then claim the service credits.
- If you have had a multiple employers in the industry or periods of self employed and employee work you may be able to claim two months paid leave from the corporation as a lump sum and choose to keep working or take the time off.
- You may choose to not take the leave now and keep accruing it to use later.
After the first ten years of long service leave is taken, you continue to accrue leave and can take another payment after accruing an additional five years of service.
You can check your accrued years of service at longservice.nsw.gov.au
Stasha Dunn - StaySharp Accounting
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