SFSS Repayment rates 2009-10
The Student Financial Supplement Scheme (SFSS) was a voluntary loan scheme to help tertiary students cover their expenses while studying. The scheme ceased in December 2003.
In the fifth year of the loan being taken out, the Tax Office takes responsibility for collecting the balance of the outstanding loan, which becomes an accumulated Financial Supplement debt.
You will be required to start repaying your SFSS debt when your repayment income is above the minimum threshold for compulsory repayment.
The following rates apply for the 2009-10 financial year.
| Rate % | Repayment Income *Thresholds |
| Nil | 0 – 43,150 |
| 2 | 43,151 – 52,980 |
| 3 | 52,981 – 75,203 |
| 4 | 75,204+ |
* The way the Tax Office define ‘Repayment income’ is changing. From 1 July 2009, repayment income will be calculated using taxable income, net investment losses (including rental losses), reportable fringe benefits amounts, reportable super contributions and any exempt foreign employment income.
Online Calculator
The Australian Taxation Office have an online Student Financial Supplement Scheme repayment calculator available from the ATO website. The SFSS repayment calculator provides you with an estimate of your compulsory SFSS repayment.
Your compulsory SFSS repayment amount is automatically calculated when your tax return is processed and is based on your repayment income.
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.