HELP debt AND Financial Supplement Debt

Question

I am adding a new employee into MYOB Payroll and they have selected "YES" on their TFN Declaration Form for both a HELP debt and Financial Supplement Debt. The only option I can see in the pre-assigned tax tables is "Tax Free Threshold + STSL". Does the STSL component of this tax table option cover both the HELP and Financial Supplement tax needing to be deducted?&nbsp;

doreen_p · Answer

Hi KNIGHTH,
&nbsp;
Yes, the STSL covers repayments for HELP and Financial Supplement. Since your employee has marked both HELP and Financial Supplement debts on their TFN declaration, selecting the STSL tax table ensures that the correct addition tax is withheld. You can find more information through this link.
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Cheers,
Doreen

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HELP debt AND Financial Supplement Debt

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