Did you know that…
If you used the ATO’s Tax withheld calculator between 1 – 11 July 2018 to work out withholding amounts for yourself or your employees, you may have been affected by an error?
The error affected the calculation of the following:
- Higher Education Loan Program (HELP)
- Student Start-up Loan (SSL)
- Trade Support Loan (TSL)
- Student Financial Supplement Scheme (SFSS).
The error meant that the amount of withholding calculated was slightly higher than required. It should not have a significant impact on your employees’ tax withheld for the year. If you would like more information on this contact Lyndall.