Hi everyone,
From the beginning of this financial year, I have noticed the HECS/HELP repayment deduction on my weekly payslips has changed. It has in fact gone down while my salary remains unchanged.
The bookkeeper that looks after my employers accounts said that Xero, the accounting software, dictates the amount as it is set out by the ATO. I understand this, however, am confused as to why the repayments would have decreased.
Can anyone provide any insights? Also, is there anywhere online where I can see what my repayments should be based off my salary?