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% |
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
