1. 1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use DeductionsHECS Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)

2. 2 H igher E ducation C ontribution S cheme Has been replaced with H igher E ducation L oan P rogramme A loan from the Government to cover all or part of your student fees. You do not need to start repaying your HELP loan until your income is above the set threshold for compulsory repayments.

3. 3 If you pay at least $500 by the census date You will be entitled to a 20% discount on your HELP loan. Example Discount on HELP loan by a contribution of $500. Discount = 20 100 x $500= $100 A payment of $500 (before the census date) reduces the loan by $600.

4. 4 The HELP loan does not attract interest. C onsumer P rice I ndex It is indexed to the CPI on June 1 each year To the annual CPI for March. Example If your HELP loan was $50 000 on June 1 2009 and the annual CPI to March 2009 was 2.9%. Loan Increase = 2.9 100 x $50000 = $1450 New Loan Amount =$50000 + $1450 = $51 450

5. 5 HELP repayment thresholds and rates 2009–10 HELP repayment income (HRI*) Repayment rate Below $43,151Nil $43,151–$48,0664% of HRI $48,067–$52,9804.5% of HRI $52,981–$55,7645% of HRI $55,765–$59,9435.5% of HRI HELP repayment income (HRI*) Repayment rate $59,944–$64,9196% of HRI $64,920–$68,3366.5% of HRI $68,337–$75,2037% of HRI $75,204–$80,1367.5% of HRI $80,137 & above8% of HRI From 1 July 2009 *HRI will be the sum of, taxable income plus any total net investment loss (which includes net rental losses), total reportable fringe benefits amounts, reportable super contributions and exempt foreign employment income.

6. 6 George earns $49 000 and has a HECS debt of $12 000. HELP repayment income (HRI*) Repayment rate Below $43,151Nil $43,151–$48,0664% of HRI $48,067–$52,9804.5% of HRI $52,981–$55,7645% of HRI $55,765–$59,9435.5% of HRI HELP repayment income (HRI*) Repayment rate $59,944–$64,9196% of HRI $64,920–$68,3366.5% of HRI $68,337–$75,2037% of HRI $75,204–$80,1367.5% of HRI $80,137 & above8% of HRI How much does he need to repay? Repay = 4.5 100 x $49 000= $2 205

7. 7 Megan earns $42 000 and has a HECS debt of $12 000. HELP repayment income (HRI*) Repayment rate Below $43,151Nil $43,151–$48,0664% of HRI $48,067–$52,9804.5% of HRI $52,981–$55,7645% of HRI $55,765–$59,9435.5% of HRI HELP repayment income (HRI*) Repayment rate $59,944–$64,9196% of HRI $64,920–$68,3366.5% of HRI $68,337–$75,2037% of HRI $75,204–$80,1367.5% of HRI $80,137 & above8% of HRI How much does he need to repay? Repay = $0