Long Service Leave Arrangements

1. 2008 Long Service Leave Model

To access the 2008 Long Service Leave Model and associated user documentation, please refer to the Budget and Financial Management information for Victorian Government entities.

2. 2004 Long Service Leave Model

To assist departments and agencies with their Long Service Leave calculations, DTF developed two models in 2004 which have been used in calculating LSL entitlements since 30 June 2004. DTF will continue to issue a 12 year discount rate required by the 2004 Model until 1 July 2009. After this time, DTF will refer to the Reserve Bank of Australia website to departments and agencies which require this 12 year data series.

2004 Model 1: To be used to calculate LSL for employees vesting LSL after seven years continuous service:

• Long Service Leave Model 1 (89 kb Excel)

2004 Model 2: To be used to calculate LSL for employees vesting LSL after ten years continuous service (expected to apply to Executive Officers and some VPS staff not under the Agreement):

• Long Service Leave Model 2 (87 kb Excel)

3. Wage Inflation and Discount Rates

Please note that the 12 year discount series from the Reserve Bank of Australia is required for the 2004 Model, whilst a single weighted average discount rate is required by the 2008 Model. The single weighted average discount rate for use with the 2008 Model will be issued on 1 July 2008 and every quarter thereafter.

Wage inflation and disocunt rates as at 30 June 2008 (Long Service Leave Quarterly Rates June 2008)
Wage inflation and disocunt rates as at 31 May 2008 (Long Service Leave Quarterly Rates May 2008)
Wage inflation and disocunt rates as at 31 March 2008 (Long Service Leave Quarterly Rates March 2008)
Wage inflation and discount rates as at 31 December 2007 (Long Service Leave Quarterly Rates December 2007)
Wage inflation and discount rates as at 30 September 2007 (Long Service Leave Quarterly Rates September 2007)
Wage inflation and discount rates as at 20 June 2007 (LSL Rates June 2007)
Wage inflation and discount rates as at 31 May 2007 (LSL Rates May 2007)