HELP repayment levels set to change

Individuals who have accumulated a HELP debt for studies may have to pay back the fees earlier from 1 July 2018. The Mid-Year Economic and Fiscal Outlook has an announcement which stated that new levels will exist, meaning students earning above $45,000 will commence paying back a HELP debt.

This also includes individuals who have moved overseas. A second top tier level will exist at 10% for those above $131,989 (or foreign currency equivalent).

For further information please contact your RCB Advisors team member.

Source:

CCH iKnow (http://iknow.cch.com.au)