Study and training support loans withholding schedule and tax tables will be updated and apply from 24 September. This is due to recent changes to compulsory repayments for these types of loans.

If you employ staff, make sure you work out how much you need to withhold from payments you make to your employees and other workers.

It’s important that you update your payroll software to make sure the right amounts are withheld, so that you meet your 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.

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Source: ATO