Document ID: chunk:federal_register_of_legislation:F2024L00664:clause:5_10
Version: federal_register_of_legislation:F2024L00664
Segment Type: clause
Provision Reference: sch 5 cl 10
Character Range: 127844–129755

10    See below                                                                                                               –

Calculate the total PAYG withholding amount for the current pay period (step 10)

Add the amounts to be withheld:

    * PAYG withholding on gross earnings in the current pay period = $272
    * HELP withholding on gross earnings in the current pay period = $42
    * PAYG withholding on additional payment = $260
    * HELP withholding on additional payment = $52

The total PAYG withholding is $626 ($272 + $42 + $260 + $52).

Example 1 uses both:
    * Study and training support loans weekly tax table effective from 1 July 2024
    * Schedule 1 - Statement of formulas for calculating amounts to be withheld (containing the amounts, formulas and procedures that were last updated on 1 July 2024). The calculations are made using scale 2, with tax-free threshold.
Example 2: Withholding from a missed payment using Method B(i)

Robyn, who has an accumulated HELP debt, is due to receive a back payment relating to the current financial year following a pay rise. Since the first pay period of the current financial year and up until period 8, Robyn has earned $1,100 per week. From pay period 9 (her current pay period), Robyn will earn $1,200 per week.

Robyn's back payment, which covers the first eight pay periods of the current financial year, will be paid to her in pay period 9. Therefore, Robyn will receive a back payment of $800 along with her normal gross earnings of $1,200.

Using Method B(i), calculate the withholding amount for the current pay period 9 as follows:

PAYG withholding component – for Example 2
Step  Instruction                                                                                                                                                                                                                                 Result