SFSS now part of STSL (HECS)

Lots of acronyms there, you have to love the ATO (Australian Tax Office). So in plain English,

  • if you have an employee who had a SFSS (Student Financial Supplement Scheme) debt,

  • you need to Untick the ‘Std FSS’ box and

  • TICK the HECS box.

The correct tax will then be calculated.

 

The fine print from the ATO:-

"The HELP/SSL/TSL tax tables will be renamed ‘Study and training support loans tax tables’. They will incorporate HELP, VSL, SFSS, SSL, ABSTUDY SSL and TSL. There will no longer be separate SFSS tax tables. These changes arise from the passing of the Sustainability and VSL Separation Bills in 2018."