Part 1: Revenue Measures (continued)
Education and training
Higher Education Loan Programme — recovery of repayments from overseas debtors
|Department of Education and Training||‑||2.4||6.3||8.6||11.1|
|Related expense ($m)|
|Australian Taxation Office||‑||0.7||0.4||0.2||0.2|
|Department of Education and Training||‑||0.2||0.2||0.2||..|
|Department of Immigration and Border Protection||‑||0.1||..||..||..|
|Total — Expense||‑||0.9||0.6||0.3||0.1|
|Related capital ($m)|
|Australian Taxation Office||‑||‑||0.9||‑||‑|
The Government will extend the Higher Education Loan Programme (HELP) repayment framework to debtors residing overseas. From 2016‑17, HELP debtors residing overseas for six months or more will be required to make repayments of their HELP debt if their worldwide income exceeds the minimum repayment threshold at the same repayment rates as debtors in Australia. This is estimated to recover $26.0 million over four years from 2015‑16.
This change is fair to individuals and taxpayers, and is expected to improve the Government's Balance Sheet by more than $140 million over the next 10 years.
Further information can be found in the press release of 2 May 2015 issued by the Minister for Education and Training.