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  • How to work out the monthly component

    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

    To work out the monthly component, you must:

    1. Work out the total monthly earnings. If the result is an amount ending in 33 cents, add 1 cent (so the amount ends in 34 cents).
    2. Multiply this amount by 12 and then divide the result by 52 to obtain the weekly gross amount. Ignore any cents in the result and add 99 cents.
    3. Calculate the rounded weekly HELP component applicable to the weekly equivalent of earnings by applying the above formula.
    4. Multiply this amount by 52 and then divide by 12 to obtain the monthly HELP component.
    Attention

    Add the monthly HELP component to the monthly withholding amount.

    End of attention
    Further information

    Refer to Monthly withholding table (NAT 1007) and Higher Education Loan Program monthly withholding table (NAT 2186).

    End of further information
    Last modified: 14 Jun 2013QC 34714