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Administered by: Education
Published Date 08 May 2014

 

AUSTRALIAN TAXATION OFFICE

HIGHER EDUCATION SUPPORT ACT 2003

Factor to Index an Accumulated HELP Debt

 

I, CHRISTINE WINKLER, of the Australian Taxation Office, HEREBY NOTIFY, pursuant to section 140-20 of the Higher Education Support Act 2003, that 1.026 is the HELP debt indexation factor for 1 June 2014 to be used in working out accumulated HELP debts for the 2013-2014 financial year.

 

In accordance with section 140-10 of the Higher Education Support Act 2003, the HELP debt indexation factor is the number worked out to three decimal places using the formula:

 

the sum of the index number for the March 2014 quarter and the index numbers for the three immediately preceding quarters

divided by

the sum of the index number for the March 2013 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.

 

Indexation factor for 1 June 2014      =          Mar14+Dec13+Sep13+Jun13

                                                                        Mar13+Dec12+Sep12+Jun12

 

=          105.4 + 104.8 + 104.0 + 102.8

102.4 + 102.0 + 101.8 + 100.4

 

=          417 divided by

406.6

 

=          1.026 (to three decimal places)

 

The indexation factor is 1.026 and the effective percentage increase is 2.6%.

 

 

Dated this ___5th___ day of ___May____ 2014

 

 

 

 

 

__Christine Winkler_______________________