Conversion of skills and experience retention entitlement (Schedule 1 clause 7(4a) of Act)
25 Conversion of skills and experience retention entitlement (Schedule 1 clause 7(4a) of Act)
For the purposes of Schedule 1 clause 7(4a) of the
Act—
the amount of $249 (indexed) for each working day of skills and experience retention leave accrued during a particular financial year (which will be reduced on a pro rata basis in relation to a part of a working day and in relation to part‑time work) is fixed by these regulations; and
an entitlement to such leave may be converted to the amount fixed under paragraph (a) if an election is made to a public sector agency (or an office or division within a public sector agency) nominated by the Minister, in a manner determined by the Commissioner, by
31 August immediately following the financial year in which the entitlement accrues; and
an amount payable on account of an election under paragraph (b) will be paid to the employee at a time, and in a manner, determined by the Commissioner for the purposes of this paragraph; and
an amount payable in relation to a part of a working day or
part‑time work will be determined in a manner determined by the
Commissioner.
The amount of $249 (indexed) referred to in subregulation (1)(a) is to be adjusted on an annual basis (commencing in relation to days accrued in the 2025/2026 financial year) by multiplying that amount by a proportion obtained by dividing the Consumer Price
Index for the March quarter in the immediately preceding financial year by the
Consumer Price Index for the March quarter, 2024 (with an adjustment applying according to when a leave entitlement accrues rather than when a payment is made).
An amount determined under subregulation (2) is to be rounded up or down to the nearest $1 (and if the amount to be rounded is 50 cents, then the amount is to be rounded up).
In this regulation—
Consumer Price Index means the Consumer Price
Index (All groups index for Adelaide) published by the Australian Bureau of
Statistics.
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