Show download pdf controls
  • Study and training support loans monthly tax table

    Use this table for payments made from 1 July 2019 to 30 June 2020.

    Use the study and training support loans component look-up tool (XLSX 55KB)This link will download a file to quickly work out the monthly component.

    Using this table

    You should use this table if you make monthly payments and your employee has:

    • given you a Tax file number declaration or Withholding declaration
    • answered yes to the question on whether they have a
      • Higher Education Loan Program (HELP) debt
      • VET Student Loan (VSL) debt
      • Financial Supplement (FS) debt
      • Student Start-up Loan (SSL) debt (includes ABSTUDY SSL debts)
      • Trade Support Loan (TSL) debt
       
    • monthly income of $3,822.00 or more, if they have claimed the tax-free threshold
    • monthly income of $2,305.33 or more, if they have not claimed the tax-free threshold
    • 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.

    You must withhold the study and training support loans component from all of your employee’s earnings, including taxable allowances, bonuses and commissions.

    Do not withhold any amount for study and training support loans from lump sum termination payments.

    See also:

    Working out the withholding amount

    To work out the amount you need to withhold:

    1. Use the Monthly tax table to calculate the monthly withholding amount for your employee’s earnings, allowing for any tax offsets claimed.
    2. Use this study and training support loans monthly tax table to calculate the study and training support loans component to withhold.
    3. Add the study and training support loans component to the withholding amount.
    4. Withhold this amount from your employee’s earnings.

    Finding the study and training support loans monthly component

    Input your employee’s monthly earnings (ignoring any cents) in column 1 into the study and training support loans component look-up tool (XLSX 55KB)This link will download a file and use the appropriate column to find the study and training support loans component.

    Use column 2 if your employee is either:

    • claiming the tax-free threshold
    • a foreign resident.

    Use column 3 if your employee is not claiming the tax-free threshold.

    Example:

    Your employee has claimed the tax-free threshold and has monthly earnings of $5,263.45. Ignoring cents, input $5,263 into the study and training support loans component look-up tool (XLSX 55KB)This link will download a file. The HELP/SSL/TSL monthly component in column 2 is $186.

    End of example

    Using 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 use Statement of formulas for calculating study and training support loans components.

    Last modified: 14 Jun 2019QC 59034