CTHRepealedLegislation
Taxation Administration Act 1953 - Withholding Schedules 2005 (2004 Budget Changes)
When there are 27 pay periods in a finanWhen there are 27 pay periods in a financial year
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When there are 27 pay periods in a financial year
Fortnightly payers may in some years pay their payees 27 times instead of the usual 26. As this schedule is based on 26 pays, the extra pay may result in insufficient amounts being withheld. Payers are asked to tell their payees when this occurs. Those payees who are concerned about a shortfall, may request their payer to withhold the additional amounts shown in the table below:
| Fortnightly earnings | Additional withholding |
|---|---|
| $ | $ |
| 840 to 2,399 | 5 |
| 2,400 to 3,049 | 16 |
| 3,050 and over | 21 |