The disbursement date for the pay period ending Friday 2 July 2021 will be Thursday 1 July 2021 – not Wednesday 30 June 2021. This is to ensure there are 26 pays in the 2020-2021 financial year. It is recommended that you make any necessary changes to automatic disbursements that you may have set up to come out of your bank account on either the Wednesday or Thursday of pay week, to have them actioned instead on the Friday.

As a result of this, during the 2021-2022 financial year there will be 27 pay days at Flinders University, rather than the usual 26. This situation occurs periodically due to the way the pay days fall in the financial year. This will mean that your taxable income for the financial year 2021-2022, as reported to the ATO, will be slightly higher than normal.

The information provided by the Australian Tax Office (ATO) on how much tax should be deducted is always based on 26 pay days in the financial year. As a result, you may be left with a small tax bill at the end of the next financial year, depending on your personal circumstances. To prevent this occurring, we can deduct additional tax from your pay until the end of this financial year. Any additional amounts requested will be set up in the system from the first pay period 2 July 2021 and will cease on the last pay period 1 July 2022.

If you wish to take up this option, please advise the revised additional amount to be withheld as either a fixed amount or % by email to payroll@flinders.edu.au

If you wish for this to apply for the full 2021-2022 financial year please submit request by Wednesday 23 June 2021. Alternatively this can be applied for throughout the financial year, however changes cannot be made retrospectively.

Any additional amount of tax to be deducted is your own decision; however, please refer to the ATO web site for guidelines on how much you may need to have withheld – https://www.ato.gov.au/Calculators-and-tools/Tax-withheld-calculator/?page=3

Please contact Payroll Services on extension 13888 if you have any questions in relation to this matter.