HELP, HECS & SUPPLEMENTARY LOAN REPAYMENT THRESHOLDS & RATES

This article lists the repayment thresholds and rates for the compulsory repayment of Higher Education Loan Programme (HELP), Higher Education Contribution Scheme (HECS) and  Financial Supplement debts. 

HELP repayment thresholds and rates

2008–09

HELP repayment income (HRI*)	Repayment rate
Below $41,595	Nil
$41,595–$46,333	4% of HRI
$46,334–$51,070	4.5% of HRI
$51,071–$53,754	5% of HRI
$53,755–$57,782	5.5% of HRI
$57,783–$62,579	6% of HRI
$62,580–$65,873	6.5% of HRI
$65,874–$72,492	7% of HRI
$72,493–$77,247	7.5% of HRI
$77,248 and above	8% of HRI

*HRI= Taxable income plus any net rental losses, total reportable fringe benefits amounts and exempt foreign employment income.

2007–08

HELP repayment income (HRI*)	Repayment rate
Below $39,825	Nil
$39,825–$44,360	4% of HRI
$44,361–$48,896	4.5% of HRI
$48,897–$51,466	5% of HRI
$51,467–$55,322	5.5% of HRI
$55,323–$59,915	6% of HRI
$59,916–$63,068	6.5% of HRI
$63,069–$69,405	7% of HRI
$69,406–$73,959	7.5% of HRI
$73,960 and above	8% of HRI

*HRI= Taxable income plus any net rental losses, total reportable fringe benefits amounts and exempt foreign employment income.

 

SFSS repayment thresholds and rates

2008 – 09

Repayment income (RI*) thresholds	Repayment rate
Below $41,595	Nil
$41,595–$51,070	2% of RI
$51,071–$72,492	3% of RI
$72,493 and above	4% of RI

*RI= Taxable income plus any net rental losses, total reportable fringe benefits amounts and exempt foreign employment income.

2007 – 08

Repayment income (RI*) thresholds	Repayment rate
Below $39,825	Nil
$39,825–$48,896	2% of RI
$48,897–$69,405	3% of RI
$69,406 and above	4% of RI

*RI= Taxable income plus any net rental losses, total reportable fringe benefits amounts and exempt foreign employment income.

      

 

 

 

 

 

About The Author

Warren Kruger is an Australian Tax Specialist and Advisor.

For a FREE Report "7 Essential Strategies to Reduce Your Taxation NOW!",
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About The Author

Warren Kruger is an Australian Tax Specialist and Advisor. For a FREE Report “7 Essential Strategies to Reduce Your Taxation NOW!”,enter your name and email address in the Opt In Box located on the top right hand side of this article.

Tagged as: 579, debts, education contribution scheme, employment income, financial supplement, fringe benefits, hecs, higher education contribution scheme, higher education loan, hri, loan repayment, rental losses, repayment rate, taxable income