Study and training support loans withholding schedule and tax tables will be updated and apply from 24 September due to changes to compulsory repayments for these types of loans.
If your clients employ staff, ensure they work out how much they need to withhold from payments.
It’s important your clients update their payroll software to ensure they withhold the right amounts to meet their employer obligations.
The withholding schedule and tax tables which will be updated are:
- Schedule 8 – Statement of formulas for calculating study and training support loans components
- Study and training support loans weekly tax table
- Study and training support loans fortnightly tax table
- Study and training support loans monthly tax table
For more information visit pay as you go (PAYG) withholding tax tables.