Revision of Study and training support loans rates and thresholds 2019-20 from Wed, 2019-05-29 14:24

Version: 

2018-19

Effective Date: 

01/07/2019 - 11:45am

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

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.

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