How much will I repay?

Your repayment income is calculated from the amounts given on your income tax return for:

  • your taxable income;
  • reportable fringe benefits (reported on your payment summary);
  • total net investment loss (which includes net rental loss);
  • reportable super contributions; and
  • exempt foreign employment income amounts.

The more you earn, the higher your repayment will be. When you complete your tax return the ATO will calculate your income for the financial year and the then tell you how much your compulsory repayment is.

You begin to pay back your HELP debt through the tax system once you earn above the compulsory repayment threshold. The compulsory repayment threshold is different each year.

The compulsory repayment threshold for the 2021-22 income year was $47,014.
The compulsory repayment threshold for the 2022-23 income year will be $48,361.
Your compulsory repayments are calculated based on your income, not the size of your debt.

If you not earn above the threshold, you will not have to make a repayment on your debt.