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BakerW(Initiate)Initiate
1 Aug 2024

Hi! A question regarding a fully repaid HECS loan by a Full year non-resident for tax purposes, with zero Australian income & foreign income above the $12887 threshold. The HECS debt was completely paid off in October 2023. Although the HECS balance is now zero, as there was a balance for the first few months of the 23/24 Tax Year (July thru October) will a return need to be completed, or will a Non-Lodgment Advice be all that is necessary for this year? Many Thanks!

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6 replies
360 views
6 replies

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Most helpful reply

RochL(Master)Master
2 Aug 2024

Hi @BakerW,


Congratulations on paying off your HELP loan!


If the only reason you were previously lodging was to report your worldwide income for calculating your overseas levy, then as long as your loan has a $0 balance, a non-lodgment advice is sufficient.

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Most helpful reply

RochL(Master)Master
2 Aug 2024

Hi @BakerW,


Congratulations on paying off your HELP loan!


If the only reason you were previously lodging was to report your worldwide income for calculating your overseas levy, then as long as your loan has a $0 balance, a non-lodgment advice is sufficient.

TaraATO(Community Support)Community Support
2 Aug 2024

Hi @BakerW


Use our 'Do I need to lodge' tool to be sure!

BakerW(Initiate)Initiate
2 Aug 2024

Hi TaraATO, I did that but the question in the tool is along the lines of "Did you have a loan (HECS etc) in the Tax Year". As the loan was still "active" July thru October, the answer, I guess, had to be yes, so it said a return had to be lodged. Given it was a yes/no question with no option to say the loan was repaid, I thought I'd check with the forum to see what the consensus was for my situation. Cheers

TaraATO(Community Support)Community Support
6 Aug 2024

Hi @BakerW


If there was still a balance from July to October as you said in the first post, you picked the right option by clicking yes.


So, it sounds like you'll need to lodge if that's what the tool says.

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Paid off HECS - Do I Need To Lodge? | ATO Community