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  • Student Financial Supplement Scheme (SFSS) weekly tax table

    Attention

    For payments made from 1 July 2015 to 30 June 2016

    End of attention

    Use the SFSS component look-up tool to quickly work out the SFSS componentThis link opens in a new window.

    End of work it out

    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 Financial Supplement 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 SFSS component from all your employee’s earnings, including taxable allowances, bonuses and commissions.

    Attention

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

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    Get it done

    You can download a printable look-up table of weekly withholding for SFSS component (509KB) 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 to calculate the weekly withholding amount for your employee’s earnings, allowing for any tax offsets claimed.
    2. Use this SFSS weekly tax table to calculate the SFSS component to withhold.
    3. Add the SFSS component to the withholding amount. Withhold the result from your employee’s earnings.
    4. If your employee also has a Higher Education Loan Program (HELP)/Trade Support Loan (TSL) debt, add the HELP/TSL component (calculated using the HELP/TSL weekly tax table) as well as the SFSS component to the amount to withhold. Withhold the result from your employee’s earnings.
    Last modified: 15 Jun 2016QC 44260