Income for HELP

Do you have a HECS/HELP debt? Have you ever wondered how the ATO works out how to calculate how much HECS/HELP you need to pay? They don't just take into consideration your Taxable Income, there are a few other things they look at...

The Higher Education Loan Program (HELP), Student Start-up Loan (SSL), ABSTUDY Student Start-up Loan (ABSTUDY SSL),Trade Support Loan (TSL) and Student Financial Supplement Scheme (SFSS) repayment income includes your:

• taxable income (your assessable income minus deductions)

• reportable fringe benefits amount, as reported on your payment summary

• total net investment loss (includes both net financial investment loss and net rental property loss)

• reportable super contributions (includes both reportable employer super contributions and deductible personal super contributions)

• any exempt foreign employment income amounts included in a tax return

Find out more about HECS/HELP Tax Bills in our two-part blog:

• HECS/HELP! Part One
• HECS/HELP! Part Two

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Note that the information provided is general in nature and subject to change, please contact one of our professionals who can evaluate your circumstances and provide more accurate advice to your current situation.