Taxation Administration Act 1953 - Withholding Schedules 2005 (2004 Budget Changes)
Higher Education Contribution Scheme (HEHigher Education Contribution Scheme (HECS) and Higher Education Loan Programme (HELP)
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Higher Education Contribution Scheme (HECS) and Higher Education Loan Programme (HELP)
Individuals with an accumulated HECS or HELP debt may be required to have additional amounts withheld from payments made to them to cover their anticipated compulsory HECS or HELP repayment. A payee with a HECS or HELP debt will notify the payer of those details on their Tax file number declaration or Withholding declaration.
Use the HELP weekly, fortnightly or monthly tax table to calculate the additional amounts to be withheld for HECS or HELP debts.
Payees who are entitled to a reduction of Medicare levy or do not have to pay the Medicare levy because of low family income, will not have to make a compulsory HECS or HELP repayment for that year. The exemption from making a compulsory HECS or HELP repayment may be claimed on the Medicare levy variation declaration.
Image unavailable in extracted text On 1 January 2005 HECS was replaced by a new suite of loans known as HELP. HECS debts will continue to exist until 1 June 2006. From that date all HECS debts will be known as accumulated HELP debts.