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iamnew(Newbie)Newbie
10 Mar 2023

 I earned $59000 enough to make repayments, employer be made through my tax system. As employee, some of my pay be withheld by my employer (4k) to cover my repayments. ( i did pay extra 2K after i file tax return) 

I checked the HELP loan balances , it did not shown the pay 4k .

I checked the notice assessment as well.

TLDR:

  • Hecs debt is significantly higher than expected even after lodging and assessing tax.
  • My HECS payment is taken out of my payment at a 4% rate
  • I have paid about 6k however only 2k has been reduced from my debt

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406 views
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VeLo(Master)Master
12 Mar 2023

Hi @iamnew


If you look at the thresholds and rates , $59,000 income is in the 2% repayment threshold, so your repayment would be around $1,800.


You may have found that you received a refund of any excess tax withheld on your notice of assessment.

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Most helpful reply

VeLo(Master)Master
12 Mar 2023

Hi @iamnew


If you look at the thresholds and rates , $59,000 income is in the 2% repayment threshold, so your repayment would be around $1,800.


You may have found that you received a refund of any excess tax withheld on your notice of assessment.

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