Budget Savings (Omnibus) Act 2016 (55 of 2016)
Schedule 1 Minimum repayment income for HELP debts
Higher Education Support Act 2003
2 Section 154-20 (table)
Repeal the table, substitute:
Applicable percentages |
||
---|---|---|
Item |
If the person's repayment income is: |
The percentage applicable is: |
1 |
More than the *minimum repayment income, but less than: (a) for the 2018-19 *income year - $57,730; or (b) for a later income year - that amount indexed under section 154-25. |
2% |
2 |
More than the amount under item 1, but less than: (a) for the 2018-19 *income year - $64,307; or (b) for a later income year - that amount indexed under section 154-25. |
4% |
3 |
More than the amount under item 2, but less than: (a) for the 2018-19 *income year - $70,882; or (b) for a later income year - that amount indexed under section 154-25. |
4.5% |
4 |
More than the amount under item 3, but less than: (a) for the 2018-19 *income year - $74,608; or (b) for a later income year - that amount indexed under section 154-25. |
5% |
5 |
More than the amount under item 4, but less than: (a) for the 2018-19 *income year - $80,198; or (b) for a later income year - that amount indexed under section 154-25. |
5.5% |
6 |
More than the amount under item 5, but less than: (a) for the 2018-19 *income year - $86,856; or (b) for a later income year - that amount indexed under section 154-25. |
6% |
7 |
More than the amount under item 6, but less than: (a) for the 2018-19 *income year - $91,426; or (b) for a later income year - that amount indexed under section 154-25. |
6.5% |
8 |
More than the amount under item 7, but less than: (a) for the 2018-19 *income year - $100,614; or (b) for a later income year - that amount indexed under section 154-25. |
7% |
9 |
More than the amount under item 8, but less than: (a) for the 2018-19 *income year - $107,214; or (b) for a later income year - that amount indexed under section 154-25. |
7.5% |
10 |
More than the amount under item 9. |
8% |