HELP and SFSS income thresholds and repayment rates 2018-19

Version: 

2018-19

Effective Date: 

01/07/2018 - 07:00am

Status: 

  • Current

Tax Category: 

  • Payroll
  • Tax preparation

Resource Type: 

  • Statement of formula / rates and thresholds

Description: 

The formulas for higher education loan repayments and NAT 3539 output file, which includes tabs containing tables for the HELP and SFSS rates, that apply from 1 July 2018 are provided below. The Budget Savings (Omnibus) Bill 2016 introduced a new lower minimum repayment rate and threshold for all HELP debts.

Updated schedules and tax tables that apply from 1 July 2018 have been published at ato.gov.au/tax tables

HELP and other study and training support loans thresholds and repayment rates 2019-20

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 likely 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

Find out more:

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

Resource Attachments