The TSL Program is intended to help encourage apprenticeships in targeted occupations , by providing apprentices with loan support during the period of their apprenticeship. As loans, they are tax free, and must be repaid from after-tax earnings through the tax system. You can borrow a small amount, say $0, or take the full amount of $20over four years. TSL Payments have annual limits of: $ 4in year one $3in year two $2in year three $1in year four The loan amounts are higher in the early years of training to compensate for your lower wages.
Price Support Reports. What is trade support loan?
Can I pay an overseas levy on my student loan? The year of your apprenticeship determines the amount you may receive. There is no waiting period to claim. Use the ATO calculator to determine how much they need to repay according to the gross amount they will earn, enter the details into the calculator and this will tell you how much Tax needs to be deducted each week. Trade support loan can also be cancelled on the person’s request.
You must start making compulsory repayments against your study or training support loan when your repayment income exceeds the minimum repayment threshold. (more…)