If you have a Higher Education Loan Program (HELP) debt, you may be required to make mandatory loan repayments. These repayments are computed depending on your income and the Australian Government’s repayment limits. We will explain how your HELP repayments are computed and what factors influence them in this blog article.


The first thing you should know is that your HELP debt is adjusted annually to account for changes in the Consumer Price Index (CPI). This means that your debt grows slightly each year in order to stay up with inflation. For Example, if in 2024 the indexation rate is 1.8%, which indicates that if you had a $10,000 debt on June 1, 2024, it would climb to $10,180 on June 1, 2025.

*Some data in this video may only be relevant to the 2021-22 financial year.*
The second thing you should know is that your HELP repayments are calculated using your adjusted taxable income (ATI), which is your taxable income plus any non-taxable income such as fringe benefits, foreign income, net investment losses, and reportable super contributions. Your ATI determines which repayment threshold you fall within and the percentage of your income you must pay toward your HELP debt.


The following table shows the repayment thresholds and rates for 2022-23 and 2023-24:

Table showing the repayments percentages for the 2023-24 financial year with income brackets.
Simply multiply your ATI by the repayment rate that applies to you to calculate your annual HELP repayment amount. For example, if your ATI for 2023-24 is $75,000, you fall into the $70,889 – $75,140 range, and your repayment rate is 3.5%. As a result, your annual HELP repayment is:


$75,000 x 0.035 = $2,625


This amount will be deducted from your income tax refund or added to your tax liability when you lodge your tax return. You can also choose to make voluntary repayments to your HELP debt at any time during the year. Voluntary repayments might help you pay off your debt faster and save money on indexation.


We hope this blog post has provided you with a better understanding of how your HELP repayments are calculated and what factors influence them. If you have any questions or need further assistance with your HELP debt or tax return, please contact us today. You can also browse our other blog posts for topics that may be of interest to you.

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