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22 July 2024

I applied for SFSS for two years. Regardless of my opinion of any government pushing such a scheme, I would really like straightforward answer to the following: can the ATO garnish my Super upon my retirement or death to repay the SFSS? Why did the federal government buy these assets off the CBA?

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417 views
1 replies

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Most helpful reply

VeLo(Master)Master
22 July 2024

Hi @James.Charl.


Retirement: if your income including super is over the HELP/SFSS repayment threshold, you will need to make repayments.


Death: currently once all outstanding tax returns are lodged up to the date someone is deceased, their HELP/SFSS debt is removed.


SFSS: I believe that it was part of the initial SFSS legislation that students would have 5 years to pay back their loans to the CBA, after which the loans were transferred to the ATO for collection through the income contingent loans method.

There is a law firm looking at SFSS complaints.

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Most helpful reply

VeLo(Master)Master
22 July 2024

Hi @James.Charl.


Retirement: if your income including super is over the HELP/SFSS repayment threshold, you will need to make repayments.


Death: currently once all outstanding tax returns are lodged up to the date someone is deceased, their HELP/SFSS debt is removed.


SFSS: I believe that it was part of the initial SFSS legislation that students would have 5 years to pay back their loans to the CBA, after which the loans were transferred to the ATO for collection through the income contingent loans method.

There is a law firm looking at SFSS complaints.

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