Document ID: chunk:federal_register_of_legislation:F2024L00664:clause:5_12:p5
Version: federal_register_of_legislation:F2024L00664
Segment Type: clause
Provision Reference: sch 5 cl 12 (pt 5/5)
Character Range: 123372–124541

foreign tax jurisdiction (if applicable) at 'Foreign tax paid'
    * amount withheld for Australian tax purposes at 'Total Australian tax withheld'.

For each salary and wage payment accrued more than 12 months before the date of payment of $1,200 or more, include the total:
    * gross amount of the payment at 'Lump sum E'
    * amount withheld and paid to a foreign tax jurisdiction (if applicable) at 'Foreign tax paid'
    * amount withheld for Australian tax purposes at 'Total Australian tax withheld'.

Employee letter

You must also provide your employee with a letter specifying:
    * the financial years over which the amount accrued, and
    * the gross amount that accrued each financial year.

Examples
Example 1: Withholding from a bonus payment using Method A

Jarrod, who has an accumulated HELP debt, is due to receive an annual bonus of $900. Jarrod earns $1,400 per week. Using Method A, calculate the withholding amount for the current pay period as follows:

PAYG withholding component – for Example 1
Step  Instruction                                                                                                                      Result