Changes to ATO tax treatment for Study and Training Support Loans
Study and Training Support Loans = STSL
ACTION REQUIRED
NB: No action is required by most Customers. Updates to names below will be automated. Existing scales have been consolidated so regardless of the old selection, the correct scale is applied in the background.
However, Customers with csv templates and import mappings for employees may need to update those. Contact Support as needed.
Effective 1/7/2019 The ATO has consolidated the options below into a single tax scale. Now called Study and Training Support Loans (STSL)
- Higher Education Loan Program (HELP)
- VET Student Loan (VSL)
- Student Financial Supplement Scheme (SFSS)
- Student Start-up Loan (SSL)
- ABSTUDY Student Start-up Loan (ABSTUDY SSL)
- Trade Support Loan (TSL).
https://www.ato.gov.au/rates/help,-tsl-and-sfss-repayment-thresholds-and-rates/
https://www.ato.gov.au/Individuals/Study-and-training-support-loans/Types-of-loans/
19.02.09 Update
Infinet Cloud 19.02.09 Update (Late August 2019) will contain the following changes:
- Employee Record Tax Info Tab
- HELP/TSL+SFSS Variation Type renamed to STSL
- Drop select options changed from HELP/TSL, SFSS, HELP/TSL+SFSS to STSL. NB. Selection of any option for STSL will result in the correct tax scale being applied
- Employee Tax Scale options renamed. Table below.
Previously any scale with a was HELP/TSL, any scale with b was SFSS, and scale with c was HELP/TSL+SFSS
| Internal ID | New Name |
| 8 | Foreign resident (3a) with STSL debt |
| 9 | Full Medicare exemption (5a) with STSL debt |
| 10 | Half Medicare exemption (6a) with STSL debt |
| 11 | No tax-free threshold (1a) with STSL debt |
| 12 | Tax-free threshold claimed (2.a) with STSL debt |
| 13 | Tax-free threshold claimed (2a) with STSL debt |
| 14 | Foreign resident (3c) with STSL debt |
| 15 | Full Medicare exemption (5c) with STSL debt |
| 16 | Half Medicare exemption (6c) with STSL debt |
| 17 | No tax-free threshold (1c) with STSL debt |
| 18 | Tax-free threshold claimed (2.c) with STSL debt |
| 19 | Tax-free threshold claimed (2c) with STSL debt |
| 20 | Foreign resident (3b) with STSL debt |
| 21 | Full Medicare exemption (5b) with STSL debt |
| 22 | Half Medicare exemption (6b) with STSL debt |
| 23 | No tax-free threshold (1b) with STSL debt |
| 24 | Tax-free threshold claimed (2.b) with STSL debt |
| 25 | Tax-free threshold claimed (2b) with STSL debt |
IMPORT MAPPINGS
For those customers using CSV Import to create or update employees, you may need to update your import templates and import mapping options. Contact Support ASAP and outline your situation if you are unsure or need assistance.
If you sync Tax Scales using Deputy Integration you will need to update the valuelist in Deputy, instructions are available here
FUTURE UPDATE
In a future update ICS will automatically update and remove any duplicate lists or scales and only one option will remain for STSL selection and only one option per parent tax scale will exist. We will keep you notified.
TFN DECLARATION
ATO has update paper TFN form here. https://www.ato.gov.au/forms/tfn-declaration/
Unfortuntaley the STP specification for TFN Dec has not changed yet. A future update will include changes to the TFN Declaration once the ATO has updated the STP specification.