The Australian Taxation Office has Gazetted the below figures for HELP and SFSS for the 2012-2013 Financial Year.
HELP Thresholds
The thresholds and rates at which HELP will be repayable for the 2012-2013 income year have been gazetted and are shown in the table below
|
2012-2013 income thresholds and repayment rates |
|||
|
For repayment income in the range: |
Percentage rate to be applied to repayment income: |
||
|
Below $49,096 |
Nil |
||
|
$49,096 |
to |
$54,688 |
4.0% |
|
$54,689 |
to |
$60,279 |
4.5% |
|
$60,280 |
to |
$63,448 |
5.0% |
|
$63,449 |
to |
$68,202 |
5.5% |
|
$68,203 |
to |
$73,864 |
6.0% |
|
$73,865 |
to |
$77,751 |
6.5% |
|
$77,752 |
to |
$85,564 |
7.0% |
|
$85,565 |
to |
$91,177 |
7.5% |
|
$91,178 and above |
8.0% |
||
SFSS Income Thresholds and Repayment Rates 2012-2013
|
SFSS 2012-2013 income thresholds and repayments |
|||
|
For repayment income in the range: |
Percentage rate to be applied to repayment income: |
||
|
Below $49,096 |
Nil |
||
|
$49,096 |
to |
$60,279 |
2.0% |
|
$60,280 |
to |
$85,564 |
3.0% |
|
$85,565 and above |
4.0% |
||
The above rates will be incorporated into the PAYG tax schedules for 2012-2013 and formulas published by the ATO for PAYG withholding where applicable.