From 1 July 2019, all study and training loans are covered by one set of thresholds and rates. They are now called STSL and no longer HECS/HELP/SSL/TST/SFSS. This article will guide you through showing an employee's STSL separately on a payslip in Wagemaster.
SFSS Tax Tables are no longer separated and have become obsolete, with these becoming part of a single study and training support loan repayment hierarchy. Tax tables for 2019-20 with HELP/SSL/TSL have been renamed Study and Training Support Loans (STSL). Employees on tax tables marked as obsolete will have to be moved to an equivalent STSL tax table.
Latest tax tables and updated instructions can be found here.
To Setup An Employee's STSL payment Separately
- Go to Employee Details > Payments > Tax.
- In the tx table, ensure that the tax scale does not include STSL.
- In Secondary Tax, add STSL.
- Example: Employee is on Tax Scale 02 with general exemption and he has a study loan.
- Please Note: Ensure that you select the correct tax table for the tax year you are in. The examples below are for the 2020 financial year.
- To remove the STSL from the Secondary Tax Field, click in the Secondary Tax box and hold the Backspace button down until the Secondary Tax box is cleared.
Below is an example of employee payslip.
The tax is separated on the employee's pay slip, but in STP the total tax is reported to the ATO.
If the employee has not earned enough to reach the threshold, no item will appear for STSL on their payslip.