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 rates and thresholds apply for the 2008-09 financial year.
2008-2009
| HELP repayment income (HRI*) | Repayment rate |
| Below $41,595 | Nil |
| $41,595–$46,333 | 4% of HRI |
| $46,334–$51,070 | 4.5% of HRI |
| $51,071–$53,754 | 5% of HRI |
| $53,755–$57,782 | 5.5% of HRI |
| $57,783–$62,579 | 6% of HRI |
| $62,580–$65,873 | 6.5% of HRI |
| $65,874–$72,492 | 7% of HRI |
| $72,493–$77,247 | 7.5% of HRI |
| $77,248 and above | 8% of HRI |
*HRI= Taxable income plus any net rental losses, total reportable fringe
benefits amounts and exempt foreign employment income.
Online Calculator
The Australian Taxation Office have an online HELP repayment calculator available at the ATO website. The HELP repayment calculator provides you with an estimate of your compulsory HELP repayment.
Your compulsory HELP repayment amount is automatically calculated when your tax return is processed and is based on your HELP repayment income.
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.
Christie has written 811 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis | Facebook
