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Individuals With Study & Training Loans May Receive Credits
The bill to change the annual indexation for study and training loans has now passed parliament. Once the change is law, indexation will be based on either the Consumer Price Index (CPI) or Wage Price Index (WPI) – whichever is lower.
Tips to reduce study & training loan balances.
If you have a study and training loan balance (e.g., a HELP debt), it may be worthwhile to consider methods of reducing the balance to ensure you are not left with a large tax bill when your 2023 income tax return is lodged.