• Schedule 11 – Higher Education Loan Program weekly tax table

    Including statement of formulas for calculating weekly and monthly withholding

    Attention

    For payments made on or after 1 July 2013 to 30 June 2014

    This document is a withholding schedule made by the Commissioner of Taxation in accordance with sections 15-25 and 15-30 of schedule 1 to the Taxation Administration Act 1953. It applies to withholding payments covered by Subdivisions 12-B (except sections 12-50 and 12-55), 12-C (except sections 12-85 and 12-90) and 12-D of schedule 1.

    End of attention

    Who should use this table?

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    You should use this table if you make weekly payments and your payee has given you a Tax file number declaration (NAT 3092) or Withholding declaration (NAT 3093) and they answered yes to the question ‘Do you have an accumulated Higher Education Loan Program (HELP) debt?’.

    If your payee has claimed the tax-free threshold, use this table if they have:

    If your payee has not claimed the tax-free threshold, use this table if their weekly income is $636 or more.

    You must withhold the HELP component from all your payee’s earnings, including taxable allowances, bonuses and commissions.

    Attention

    Do not withhold any amount for HELP from lump sum termination payments.

    End of attention

    Find out more

    For a full list of tax tables, refer to Tax tables.

    End of find out more

    Can you use a formula?

    The withholding amounts shown in this table can be expressed in a mathematical form.

    If you have developed your own payroll software package, you can use the formulas and component rates outlined below.

    The formulas comprise linear equations of the form y = ax, where:

    • y is the weekly HELP component
    • x is the weekly earnings – or weekly equivalent of earnings – rounded down to whole dollars plus 99 cents
    • a is the value of the component rate as shown in the following tables.

    Tax-free threshold claimed or foreign resident

    Weekly earnings – x
    $

    Component rate – a
    %

    0

    to

    985.99

    0.0

    986.00

    to

    1,098.99

    4.0

    1,099.00

    to

    1,210.99

    4.5

    1,211.00

    to

    1,274.99

    5.0

    1,275.00

    to

    1,369.99

    5.5

    1,370.00

    to

    1,483.99

    6.0

    1,484.00

    to

    1,561.99

    6.5

    1,562.00

    to

    1,718.99

    7.0

    1,719.00

    to

    1,831.99

    7.5

    1,832.00

    and

    over

    8.0

    No tax-free threshold claimed

    Weekly earnings – x
    $

    Component rate – a
    %

    0

    to

    635.99

    0.0

    636.00

    to

    748.99

    4.0

    749.00

    to

    860.99

    4.5

    861.00

    to

    924.99

    5.0

    925.00

    to

    1,019.99

    5.5

    1,020.00

    to

    1,133.99

    6.0

    1,134.00

    to

    1,211.99

    6.5

    1,212.00

    to

    1,368.99

    7.0

    1,369.00

    to

    1,481.99

    7.5

    1,482.00

    and

    over

    8.0

    Last modified: 14 Jun 2013QC 34714