Will paying into my income tax account reduce the amount of tax needing to be paid at the EOFY? Can I put what I owe for my HECS into it so I’m not left with a tax debt at the EOFY?
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HI lturner,
That account doesn't really work like that.
If you were to just deposit an amount into the account when nothing was currently owing, there is a high chance the ATO will just return it.
You can contact the ATO and ask to pay your HECS off at any time. They will provide you with the payment details.
Toby
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HI lturner,
That account doesn't really work like that.
If you were to just deposit an amount into the account when nothing was currently owing, there is a high chance the ATO will just return it.
You can contact the ATO and ask to pay your HECS off at any time. They will provide you with the payment details.
Toby
Hi @lturner02,
We have an aritcle on Paying my HECS HELP student loan that will answer any other HECS questions you have.
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