The Higher Education Loan Programme (HELP) was introduced in 2005, replacing the Higher Education Contribution Scheme (HECS).
You will be required to start repaying your HELP debt when your repayment income is above the minimum threshold for compulsory repayment. The following Higher Education Loan Programme (HELP) and HECS repayment thresholds and rates apply for the 2007-08 financial year.
2007-2008
| 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.
You can find rates for earlier years (way back to 1999-2000) from our main site HELP Repayment Thresholds & Rates – earlier years.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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