Document ID: chunk:federal_register_of_legislation:F2024L00664:schedule:8:p2
Version: federal_register_of_legislation:F2024L00664
Segment Type: schedule
Provision Reference: sch 8 (pt 2/4)
Character Range: 172767–175598

- 1,466.99  5.0
 1,467.00 - 1,575.99  5.5
 1,576.00 - 1,691.99  6.0
 1,692.00 - 1,813.99  6.5
 1,814.00 - 1,943.99  7.0
 1,944.00 - 2,081.99  7.5
 2,082.00 - 2,227.99  8.0
 2,228.00 - 2,381.99  8.5
 2,382.00 - 2,545.99  9.0
 2,546.00 - 2,719.99  9.5
 2,720.00 & over      10.0

Calculating fortnightly, monthly or quarterly withholding amounts

First calculate the weekly equivalent of fortnightly, monthly or quarterly earnings. If you pay:
    * fortnightly – divide the sum of the fortnightly earnings and the amount of any allowances subject to withholding by 2. Ignore any cents in the result and then add 99 cents.
    * monthly – obtain the sum of the monthly earnings and the amount of any allowances subject to withholding (if the result is an amount ending in 33 cents, add one cent). Multiply this amount by 3 and then divide by 13. Ignore any cents in the result and then add 99 cents.
    * quarterly – divide the sum of the quarterly earnings and the amount of any allowances subject to withholding by 13. Ignore any cents in the result and then add 99 cents.

Then calculate fortnightly, monthly or quarterly withholding amounts as follows:
    * fortnightly – determine the rounded weekly withholding amount applicable to the weekly equivalent of earnings before any adjustment for tax offsets. Multiply this amount by 2.
    * monthly – determine the rounded weekly withholding amount applicable to the weekly equivalent of earnings before any adjustment for tax offsets. Multiply this amount by 13, divide the product by 3 and round the result to the nearest dollar.
    * quarterly – determine the rounded weekly withholding amount applicable to the weekly equivalent of earnings before any adjustment for tax offsets. Multiply this amount by 13.

When to work out the study and training support loans component

You will need to calculate the study and training support loans component when your employee has given you a Tax file number declaration or Withholding declaration and has:
    * 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 (including ABSTUDY SSL debts) or
    –      Australian Apprenticeship Support Loan (AASL) debt (formerly Trade Support Loan debt)
    * 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
    * claimed the tax-free threshold or is a foreign resident with earnings of one of the following:
    –      $1,046 or more if paid weekly
    –      $2,092 or more if paid fortnightly
    –      $4,532.67 or more if paid monthly
    –      $13,598 or more if paid quarterly.

If your