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EOFY Updates
EOFY Updates

End Of Financial Year Claims

9 June 2022

In June and July at CoINVEST, there is an increased volume of Long Service Leave claims from our members.  Long Service Leave claim payments are subject to tax – so at this time of year it is important to be mindful about making a long service leave claim and how this might affect your personal tax circumstances.

A large proportion of claims are auto-processed and are often paid within 1 to 3 business days from application.  It is vital that the information contained in your claim application is right for your situation.  You need to be absolutely sure before you press that submit button.  CoINVEST also processes claims on a first-in first-out basis, regardless of the leave start date listed in your application.

This means that claims which go through auto-processing and are received before 28 June will be paid on or before 30 June in the 2021/22 Financial Year.  It does not matter if the leave start date on the application was nominated as 1 July or later.

 

  • To ensure your claim is paid in the 2022/23 Financial Year, please only submit your application to CoINVEST after 1 July 2022. 

 

  • If you require your claim to be paid in the 2021/22 Financial Year (i.e. before 30 June 2022), please submit your application to CoINVEST as soon as possible.

 

For more information regarding long service leave claims – including how to apply, how your rate of pay is calculated, and much more – visit our claiming long service leave help page.

 

 

 

 

 

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