#EveryoneNeedsaPlan for 2023 FY HELP Repayment Levels

For anyone that has a Higher Education Loan Program (HELP) debt it is important to understand the HELP Repayment Incomes and Rates for the 2023 FY to effectively budget for any repayments that fall due.

The minimum repayment percentage is based on the persons gross income.  The higher the gross income, the higher the repayment percentage.

The person needs to be earning more than $48,361 in the 2023 FY before repayments are required.  The repayment percentage minimum 1.0% and the maximum 10.0%, depending on the person's income.  The government has some great websites to help you understand the assistance provided by the government study, including details of the person's HELP.

HELP repayments are administered through the person's tax so it is recommended you seek advice from a suitably qualified tax professional for your HELP obligations and repayments.

McKinnon Financial Planning coordinates all tax requirements with professional and experienced tax advisers for Total Service Clients, so do not hesitate to contact us and arrange your free initial appointment to discuss your financial requirements.