How this calculator works
Use the divisor specified by your employment agreement or payroll policy. For annual pay it might be annual paid workdays; for monthly or weekly pay enter the days in that period. For hourly pay, enter paid hours per day. This is a valuation worksheet with no tax year. It does not establish whether leave can legally be sold.
Formula
Daily rate = period base pay / paid workdays in that period, or hourly rate x paid hours per day. Gross payout = daily rate x leave days. Base pay and leave days can also be recovered by division.
Worked example
Annual base pay of $52,000 divided by 260 workdays gives $200 per day. Selling five eligible days gives $1,000 gross.
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Frequently asked questions
Can statutory vacation always be sold?
No. Employment standards may require time off as well as vacation pay. Check your jurisdiction and agreement.
Does this include allowances?
Only if you include them in the eligible base pay under your policy.
Is the payout take-home pay?
No. Payroll tax and other deductions are excluded.