HELP Repayment Rates 2007-08

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 apply for the 2007-08 financial year.

 

Rate % HELP Repayment Income*
Nil 0 – 39,825
4 39,825 – 44,360
4.5 44,361 – 48,896
5 48,897 – 51,466
5.5 51,467 – 55,322
6 55,323 – 59,915
6.5 59,916 – 63,068
7 63,0699 – 69,405
7.5 69,406 – 73,959
8 73,960+

 
* HELP repayment income is the sum of your taxable income plus any net rental losses, total reportable fringe benefits amounts and any exempt foreign employment income.

 

Online Calculator

The Australian Taxation Office have an online HELP repayment calculator available from 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.

 

More Information

There are several different HELP schemes available. You can find out more about each of them from our HELP Scheme page.

In addition, the Tax Office have put together a publication titled Repaying Your HELP Debt in 2007-08.

It includes information on:

  • tracking your debt
  • compulsory repayments
  • HELP and Pay as You Go
  • Voluntary repayments
  • plus more

 

This publication can be viewed and downloaded in Portable Document Format (PDF) from the ATO website.

This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.