When calculating the repayment income, it states it includes "taxable income", so if you have a redundancy amount - Lump Sum D that is tax free, is this excluded from the calculation?
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I assume this is for HELP.
"Repayment income amount is calculated by adding up all of the following amounts:
- taxable income (excluding any assessable First Home Super Saver (FHSS) released amounts)
- reportable fringe benefits (regardless of the exempt status of your employer)
- total net investment loss (including net rental losses)
- reportable super contributions
- exempt foreign employment income amounts."
Study and training loan repayment thresholds and rates | Australian Taxation Office
Lump sum D is tax-free (not taxable income) and none of the above.
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I assume this is for HELP.
"Repayment income amount is calculated by adding up all of the following amounts:
- taxable income (excluding any assessable First Home Super Saver (FHSS) released amounts)
- reportable fringe benefits (regardless of the exempt status of your employer)
- total net investment loss (including net rental losses)
- reportable super contributions
- exempt foreign employment income amounts."
Study and training loan repayment thresholds and rates | Australian Taxation Office
Lump sum D is tax-free (not taxable income) and none of the above.
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