This New Zealand calculator estimates what you would receive if you cashed up a portion of your annual leave, which the law allows up to a limit each year. You enter your pay and the leave you want to cash up, and it values it at the correct rate and shows the after-tax amount. It also flags the trade-off of giving up rest for cash, helping you make an informed choice rather than a rushed one.
You can generally cash up to one week of annual leave a year, with your employer agreement, and must keep a minimum for rest. Cash-up is taxed as income and is often taxed at a higher rate for the period, with the year-end square-up settling the overall tax. Estimate only, not tax advice.
The calculator values your cashed-up leave at your daily pay, which is your weekly pay divided by your working days, times the days you cash up. It then applies the tax rate you select to show the after-tax cash. Because cashed-up leave is income paid on top of your normal pay, it is often taxed at a higher rate during that period, which is why the net is well below the gross.
On $1,300 a week over a 5-day week, a day is $260. Cashing up 5 days is $1,300 gross. At a 30% tax rate, around $390 is tax, leaving about $910 in your hand. Weigh that against giving up a week of rest before deciding.
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