Study and training support loans rates and thresholds 2019-20

Version: 

2019-20

Original Published Date: 

31/05/2019 - 08:30am

Effective Date: 

01/07/2019 - 11:45am

Status: 

  • Current

Tax Category: 

  • Payroll
  • Tax preparation

Resource Type: 

  • Statement of formula / rates and thresholds

Description: 

The repayment rates and income thresholds for HELP and other study and training support loans for the 2019-20 financial year are available under ‘Resource Attachments’.

Changes arising from the passing of the Sustainability and VSL Separation Bills in 2018 are:

  • There will no longer be separate SFSS tax tables.
  • When tax tables are updated for 2019-20, the HELP/SSL/TSL tax tables are to be renamed ‘Study and training support loans tax tables’, incorporating HELP, VSL, SFSS , SSL, ABSTUDY SSL and TSL.
  • Repayment rates and income thresholds have reduced and will commence at $45,881 with 1% repayments up to an amount of more than $134,573 with 10% repayments.
  • Additional repayment rates and thresholds at 0.5% increases have been included.
  • SFSS will become part of a single study and training support loan repayment hierarchy. Study and training support loan debts are paid off in full, one at a time, according to the hierarchy.
  • The repayment hierarchy for study and training support loans will be:
  1. HELP
  2. VSL
  3. SFSS
  4. SSL
  5. ABSTUDY SSL
  6. TSL

Reason for Amendment

Due to changes in the Sustainability and VSL Separation Bills in 2018, this page has been renamed 'Study and training support loans rates and thresholds 2019-20'.

Find out more:

To find out more about the different types of study and training support loans go to Study and training support loans.

To find out more about tax tables that will apply from 1 July 2019 go to 2019 Pay as you go (PAYG) withholding tax tables.

Resource Attachments