Since the latest round of amendments to the Workplace Relations Act came into effect on 12 December 2006, an employee may cash out personal/carers leave (accrued since WorkChoices came into effect on 27 March 2006) in the following circumstances:
where the cashing out option is specifically provided for in a workplace agreement (ie either an AWA or a collective agreement NOT a contract of employment);
the employee puts the request to cash out in writing to the employer;
the employer agrees; and
the employee has at least 15 days (pro rata for part time employees) personal leave credited to them.
An employee cannot cash out any amount of personal leave that would result in the employee having less than 15 days accrued after cashing out.