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Study and training support loans monthly tax table

Tax table for payments made monthly in 2020-21 financial year when employee has a study or training support loan.

Last updated 20 June 2021

Use this table for payments made from 1 July 2020 to 30 June 2021.

Use the study and training support loans component look-up tool (XLSX 34KB)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 $3,882.67 or more, if they have claimed the tax-free threshold
  • monthly income of $2,366.00 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 34KB)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 study and training support loans monthly component in column 2 is $156.

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.

PAYG withholding publications

You can access all pay as you go (PAYG) withholding tax tables and other PAYG withholding publications quickly and easily from our website. For more information:

If you need more information about the correct amount of tax to withhold, phone us on either:

  • 13 28 61 if you are an individual
  • 13 28 66 if you are an employer or payer.

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