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.