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Australian Statutory Changes Effective 1 July 2021 Released
Australia Statutory updates effective from July 2021 is now available in My Oracle Support.
Patch numbers:
12.1 Patch 32904493:R12.PAY.B
12.2 Patch 32904493:R12.PAY.C
Please be sure to carefully read all the readme's before beginning to install this patch, to ensure successful processing.
Australia Statutory updates effective from July 2021 Contents:
This patch delivers the following new changes:
1. Study and Training Support Loans (STSL) tax
2. ETP Cap amount increases to $215,000.
3.The maximum contribution base per year for superannuation contributions for SGC increases to $235,680.
4.Lump Sum D for Bona Fide Redundancy & Approved Early Retirement Scheme payments tax-free amount increases to $11,341 plus $5,672 per year of completed service.