Tax withheld calculator

HELP or SFSS debt repayments

The HELP has replaced the Higher Education Contribution Scheme (HECS). If a student defers all or part of their HELP debt, they must repay the debt.

For more information about HELP schemes, refer to HELP information for payers.

The SFSS was a voluntary loan scheme for tertiary students to help cover their expenses while they study. Five years after the student took out the loan, we become responsible for collecting the outstanding loan. At this stage, the loan becomes an accumulated financial supplement debt.

Clients make compulsory repayments of accumulated financial supplement and HELP debts through the tax system when their repayment income is above the minimum threshold. The amount they repay increases as their income increases.

You may need to withhold extra amounts for payees with an accumulated financial supplement or HELP debt under the pay as you go (PAYG) withholding system. The extra amounts cover any compulsory repayment included on their income tax notice of assessment.

The Tax file number declaration and Withholding declaration include the following questions:

• 'Do you have an accumulated Higher Education Loan Program (HELP) debt?'
• 'Do you have an accumulated financial supplement debt?'.

If they have answered 'Yes' to one or both of these questions, then you should answer 'Yes' to the equivalent questions on the calculator:

• 'Does the payee have an accumulated Higher Education Loan Program (HELP) debt'
• 'Does the payee have an accumulated financial supplement debt?' 

For more information: refer to Higher education loan schemes essentials phone us on 13 28 61 Monday to Friday between 8.00am and 6.00pm (EST).

Sections within Terms we use

• Australian resident
• Commissioner's instalment rate (CIR)
• Gross earnings
• HELP or SFSS debt repayments
• Medicare levy variation
• Tax file number not provided
• Tax file number exempt
• Tax-free threshold claimed
• Tax offsets
• Seniors and pensioners tax offset