AUSTRALIAN TAXATION OFFICE

HIGHER EDUCATION SUPPORT ACT 2003, TRADE SUPPORT LOANS ACT 2014, STUDENT ASSISTANCE ACT 1973

Factor to Index an Accumulated HELP, VSL, TSL or Financial Supplement Debt

I, FRANCES MCMORROW, of the Australian Taxation Office, HEREBY NOTIFY, pursuant to section 140- 20 of the Higher Education Support Act 2003, section 34 of the Trade Support Loans Act 2014 and subsection 12ZF(7A) of the Student Assistance Act 1973 that 1.018 is the HELP, VSL, TSL and Financial Supplement debt indexation factor for 1 June 2020 to be used in working out accumulated HELP, VSL,TSL and Financial Supplement debts for the 2019/2020 financial year.

In accordance with section 140-10 of the Higher Education Support Act 2003, section 32 of the Trade Support Loans Act 2014 and subsection 12ZF(6) of the Student Assistance Act 1973, the HELP, TSL and Financial Supplement debt indexation factor is the number worked out to three decimal places using the formula:

the sum of the index number for the March 2020 quarter and the index numbers for the three immediately preceding quarters

  divided by

the sum of the index number for the March 2019 quarter and the index numbers for the three immediately preceding quarters,

where index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the eight capital cities, published by the Australian Statistician in respect of that quarter.

The indexation factor is 1.018 and the effective percentage increase is 1.8%.

Frances McMorrow

Assistant Commissioner

Dated this 11th May 2020.