The repayment income levels and rates under the Higher Education Loan Program (HELP) for the 2019/20 financial year have been published.
HELP repayment thresholds and rates
The taxable income levels for repayment of HELP and the repayment rates for the 2019/20 financial year are set out below.
HELP repayment income (HRI*) Repayment rate
Below $45,880 Nil
$45,881 to $52,973 1%
$52,974 to $56,151 2%
$56,152 to $59,521 2.5%
$59,522 to $63,092 3%
$63,093 to $66,877 3.5%
$66,878 to $70,890 4%
$70,891 to $75,144 4.5%
$75,145 to $79,652 5%
$79,653 to $84,432 5.5%
$84,433 to $89,498 6%
$89,499 to $94,868 6.5%
$94,869 to $ 100,560 7%
$100,561 to $106,593 7.5%
$106,594 to $112,989 8%
$112,990 to $119,769 8.5%
$119,770 to $126,955 9%
$126,956 to $134,572 9.5%
$134,573 and above 10%
*HRI = Taxable income plus any total net investment loss (which includes net rental losses), total reportable fringe benefit amounts, reportable superannuation contributions and exempt foreign employment income.
Source: Commonwealth Government Gazette — C2019G00400, 3 May 2019.
