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  • Higher Education Loan Program (HELP)/Trade Support Loan (TSL) weekly tax table

    Attention

    For payments made from 1 July 2015 to 30 June 2016

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    Use the HELP/TSL component look-up tool to quickly work out the weekly componentThis link opens in a new window.

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    Using 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 weekly payments and your employee has given you a Tax file number declaration or Withholding declaration and they answered yes to the question ‘Do you have a Higher Education Loan Program (HELP) or Trade Support Loan (TSL) debt?’.

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

    • weekly income of $1,040 or more
    • not completed a Medicare levy variation declaration claiming a reduction or exemption in the Medicare levy for having a spouse or dependants and low family income.

    If your employee has not claimed the tax-free threshold, use this table if their weekly income is $690 or more.

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

    Attention

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

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    Get it done

    You can download a printable look-up table of weekly withholding for HELP/TSL component (523KB) in Portable Document Format (PDF).

    End of get it done

    Working out the withholding amount

    To work out the amount you need to withhold, you must:

    1. Use the Weekly tax table (NAT 1005) to calculate the weekly withholding amount for your employee’s earnings, allowing for any tax offsets claimed.
    2. Use this HELP/TSL weekly tax table to calculate the HELP/TSL component to withhold.
    3. Add the HELP/TSL component to the withholding amount. Withhold this amount from your employee's earnings.
    4. If your employee also has a Financial Supplement debt, add the Student Financial Supplement Scheme (SFSS) component (calculated using the SFSS weekly tax table) as well as the HELP/TSL component to the amount to withhold. Withhold the result from your employee's earnings.
    Last modified: 15 Jun 2016QC 44257