New Employee Record in Hosted - VSL (student loan setup unclear)

CDEP is Commonwealth Development Employment Projects. Google is your friend. There is no scope within Reckon for the VSL. Perhaps the development team need to have a look at this

Thanks Zappy,

Hoping for solution to VSL thing and may need to contact ATO for their advice if cannot get a definitive answer from Reckon.

+ found CDEP easily ... should have thought of Google option myself! Thank you for that.

Only those 2 options are needed in Reckon now as the various loans (incl TSL & VSL) are all under the “HELP-Debt” umbrella ☺️

Are you sure? Not saying I don't believe you but I'd like to know your authority for that

Thanks Shaz very much for your input, much appreciated!

It would be helpful for Reckon to note this type of query so that it can be incorporated into the help area on the Hosted portal ... if the help area is more comprehensive it would be time saving for users which should be the ultimate outcome (for reckon).

Thanks again!

Have just seen Zappy post, maybe I speak with ATO?

Study and training loan repayment thresholds and rates | Australian Taxation Office (ato.gov.au)

@Zappy I'm a tax consultant (about to start my 18th tax season this year) but the info confirming they all come under the one umbrella now (incl rates/thresholds) is on the ATO website:

& here's Reckon's Help info on it:

Study and training support loans (STSL) - Reckon Help and Support Centre

😊

Does that incorporate the VSL?

Thanks Shaz. I wonder why Reckon help doesn't mention it. Seems a bit of an oversight

Thank you again Shaz.

This shouldn't have been a complicated question and Reckon help has fallen well short of making the clear for users.

Even some info from the ATO is ambiguous, with their site (for students) implying that VET and possibly VSL is somehow different not part of HELP -

Unless I am missing something here, if the Tax Office want to call it something different (VSL) and produce documentation referring to VSL which is on my employees record as well, I would have thought it prudent for VSL to be an option in Reckon.

Thanks to the help of you two, I am reasonable satisfied that the HELP option may do the job, but I would have felt a whole more comfortable if VSL was a tick box option in Reckon, given the tax office seemingly want to call it something different.

Spot on Mark. Thanks for your question.

Can certainly see your point Mark.

I think the ATO has tried to simplify the whole HECS-HELP system but as a result, the absence of a lot of “detail” - like in the past - has made it all seem a bit vague 🤦🏻‍♀️

The different types are really only relevant to the student themselves as there are different conditions/amounts available depending on what study is being undertaken.

From an employer’s perspective though for payroll purposes, there are just the 2 now: HELP & SFSS. SFSS Loans were fazed out some years ago (I know because I used to have 1!) Therefore, unless it’s years old, the majority of people don’t have this one anymore so most just fall under HELP now.

Tarm

I have an employee who's paperwork states they have HELP & VSL.

When setting up the federal taxes, there are options for HELP & SFSS to be ticked. Do I have to tick both boxes or does one cover them both ?