Budget Savings (Omnibus) Act 2016 (55 of 2016)

Schedule 1   Minimum repayment income for HELP debts

Higher Education Support Act 2003

3   Subsection 154-25(1)

Repeal the subsection, substitute:

(1) The following amounts for the 2019-20 *income year, or a later income year:

(a) the *minimum repayment income;

(b) the amounts referred to in paragraph (a) of the second column of items 1 to 9 of the table in section 154-20;

are indexed by multiplying the corresponding amounts for the 2018-19 income year by the amount worked out using the formula:

Indexation formula in subsection 154-25(1) of the Higher Education Support Act 2003