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Administered by: Treasury
Published Date 12 May 2021

 

AUSTRALIAN TAXATION OFFICE

 

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

 

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

 

I, Gail Hopley, 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 1.006 is the HELP, VETSL, TSL and Financial Supplement debt indexation factor for 1 June 2021 to be used in working out accumulated HELP, VETSL,TSL and Financial Supplement debts for the 2020/2021 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 2021 quarter and the index numbers for the three immediately preceding quarters

  divided by

the sum of the index number for the March 2020 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 2021

=

Mar21+Dec20+Sep20+Jun20 Mar20+Dec19+Sep19+Jun19

 

 

=

 

117.9 + 117.2 + 116.2 + 114.4

116.6 + 116.2 + 115.4 + 114.8

 

 

=

 

465.7 divided by

463

 

 

=

 

1.006 (to three decimal places)

 

The indexation factor is 1.006 and the effective percentage increase is 0.6%.

Signature

Gail Hopley

Assistant Commissioner

 

   Dated this 11th day of May, 2021.