Tax and Education

You can make a voluntary payment at any time but there are no tax advantages to doing so. It is a good idea to make the payment before 1 June when the annual indexation is calculated. The indexation rate for 2025 is 3.2%. You should be aware that if your HELP repayment income is above $54,435 (2024-25 rate) and you still have an outstanding HELP balance you may also be required to make a compulsory payment when you lodge your 2025 tax return.

For the 2026 year, the threshold for repaying your study and training loan has increased to $56,156. However in the Budget, the government announced changes to the HELP and student loan repayment system. If this progresses, the minimum repayment threshold will increase to  $67,000 in 2025-26. This change will also introduce a system where HELP repayments are calculated only on the income above the new $67,000 threshold rather than repayments based on total annual income.

No. This would be incurred at “a point too soon” and could not be deducted as there is insufficient connection to the derivation of taxable income.

The costs associated with seminars are tax deductible provided that they relate to your current income producing activities.

At H&R Block nothing is too complicated. We can assist you with any number of tax questions. To find an office near you just call 13 23 25 or click here.

If you have salary sacrificed into super, the amount contributed is included in the reportable employer superannuation contributions amount shown on your PAYG income statement. This means that any entitlement you have to any benefits from Centrelink that are subject to an income test will take into account those amounts.

Any superannuation contributions for which you have claimed a tax deduction will also be taken into account. These amounts also contribute to the calculation of any Child Support payments and are used to determine your liability to such things as the Medicare levy surcharge or repayments of HELP and training and study loans. They may also impact on any tax offsets that you are entitled to claim on your tax return.