In the 2020/2021 financial year, for Macquarie staff there will be 27 pay periods instead of the usual 26 pay periods.
As the ATO calculate the tax withheld amounts based on a 26 pay period financial year, this may result in an insufficient amount of tax being withheld from your pay.
What does this mean?
If you are concerned about the impact of a shortfall in the amount of tax withheld each pay period, you can make a request for Payroll to withhold an additional amount of tax based on the following table:
| Fortnightly earnings $ | Additional withholding $ |
| 1,400 to 3,399 | 12 |
| 3,400 to 6,899 | 17 |
| 6,900 and over | 37 |
How do I request additional tax be withheld?
If you would like an additional amount of tax be withheld from your fortnightly pay, please click here to complete a request form.
For further information, please visit the ATO website here.
Please note that this applies to Macquarie staff only and does not apply to staff of the University’s entities.
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