Re: The UTS 'Secks and Welcome the New Students' Thread
http://www.goingtouni.gov.au/Main/FeesLoansAndScholarships/LoanRepayments/Compulsory-Voluntary.htm
HELP debts
If you obtain a HELP loan from the Australian Government to pay for your studies, then a HELP debt is recorded for you with the Tax Office. You will repay your HELP debt by making:
compulsory repayments through the tax system when your HELP repayment income is above the minimum repayment threshold; and / or
voluntary repayments directly to the Tax Office.
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Compulsory repayment amounts - when and how much?
Compulsory repayments are made when you lodge your tax return and your HELP repayment income is above the minimum threshold, $38,148 in 2006-07.
The compulsory repayment amount depends on your HELP repayment income for each income year.
Example: A person with a HELP repayment income of $39,000 in 2006-07 will make a repayment equivalent to 4% of their income, or $1560.
HELP repayment income is:
your taxable income for an income year, plus
any amount your taxable income had been reduced by a net rental loss, plus
your total reportable fringe benefits amounts shown on your pay as you go (PAYG) payment summary, plus
any exempt foreign employment income.
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