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  • Schedule 22 – Tax table for seniors and pensioners

    Use for payments to low income aged persons and pensioners

    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), and 12-D of schedule 1.

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    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.

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    You should use this table if you make payments to:

    • seniors and pensioners who, at the end of the relevant financial year, are 65 years old or older (for example, to be eligible for the year ending 30 June 2014, a payee must be born on or before 30 June 1949)
    • veterans receiving a service pension and/or war widows/widowers receiving an income support supplement from the Department of Veterans’ Affairs who are at least 60 years old.

    This table applies to weekly payments including:

    • salary, wages, allowances and leave loading paid to payees
    • director’s fees
    • payments to labour hire workers
    • compensation, sickness or accident payments that are calculated at a periodical rate and made because a person is unable to work (unless the payment is made under an insurance policy to the policy owner)
    • a non-super income stream
    • a super income stream.

    This tax table can only apply if the payee has provided you with either:

    Find out more

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

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    Can you use a formula?

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

    You should read this section with Statement of formulas for calculating amounts to be withheld (NAT 1004).

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

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

    Last modified: 14 Jun 2013QC 34728