The repayment thresholds and rates of the Higher Education Loan Program (HELP) 2019/2020 Financial Year have been released.
The taxable income levels for repayment of HELP and the repayment rates for the 2019/20 financial year are set out below.
| HELP repayment income (HRI*) | Repayment rate |
| Below $45,880 | Nil |
| $45,881 to $52,973 | 1% |
| $52,974 to $56,151 | 2% |
| $56,152 to $59,521 | 2.5% |
| $59,522 to $63,092 | 3% |
| $63,093 to $66,877 | 3.5% |
| $66,878 to $70,890 | 4% |
| $70,891 to $75,144 | 4.5% |
| $75,145 to $79,652 | 5% |
| $79,653 to $84,432 | 5.5% |
| $84,433 to $89,498 | 6% |
| $89,499 to $94,868 | 6.5% |
| $94,869 to $ 100,560 | 7% |
| $100,561 to $106,593 | 7.5% |
| $106,594 to $112,989 | 8% |
| $112,990 to $119,769 | 8.5% |
| $119,770 to $126,955 | 9% |
| $126,956 to $134,572 | 9.5% |
| $134,573 and above | 10% |
*HRI = Taxable income plus any total net investment loss (which includes net rental losses), total reportable fringe benefit amounts, reportable superannuation contributions and exempt foreign employment income.
For more information, contact Shane at Make Cents Accounting on info@makecentsaccounting.com.au
Source: Commonwealth Government Gazette — C2019G00400, Notification of repayment incomes and repayment rates for the Higher Education Loan Program (HELP) for the 2019–20 income year, 3 May 2019
