A change in how the ATO is recouping student loan debt will affect how this is reported from 1 July 2019. The Student Financial Supplement Scheme (SFSS) and Higher Education Loan Program (HELP) will be amalgamated into Study and Training Support Loans (STSL). This amalgamation will see new repayment rates apply from 1 July 2019.
The key information for employers and payroll officers is: If an employee has the SFSS field checked in Sybiz Visipay you must also check the field for HELP after
you have processed the final pays for the 18/19 financial year.
After rolling into the new financial year in Sybiz Visipay, you should be prompted to apply tax scales for the 19/20 financial year.
And did you know? At any time, you can hover your cursor over the Tax Scale Status option in the top right of Sybiz Visipay. This will display the current tax scale and any tax scales that have been downloaded (typically for the coming financial year) but have not yet been applied.