The Australian Government has introduced changes relating to Higher Education Loan Program (HELP) repayment obligations for students with a HELP debt who are living and working overseas.
From 1 July 2017 students will need to work out their worldwide income for the 2016-17 income year and report this information to the Australian Taxation Office (ATO) by lodging it online via myGov or through a registered Australian tax agent.
The first repayment will commence from 1 July 2017 based on the worldwide income for the 2016/17 income year. Similarly to if you were living and working in Australia, if you live and work overseas and earn worldwide income that exceeds the minimum HELP repayment thresholds, you will be required to make repayments against your loan.
These overseas repayment arrangements apply to all study loan schemes: HECS-HELP, FEE-HELP, OS-HELP and SA-HELP.
Article republished from fees.curtin.edu.au.