I made repayments to my student loan through my weekly pay check on the stsl component for the whole of the 2023-2024 financial yeah. I have logged my tax return and the amount owing to the loan was taken out of the tax return I should have received back. I have confirmed with my employer that everything was paid to the ATO. Essentially it looks like I have paid the amount twice to the ATO but the repayments I made are no where to be seen. I spent over an hour on the phone to the ATO trying to work out the issue and they couldn’t work out why this has occurred or how to fix it. Any help would be much appreciated.
Hi, STSL repayments are not paid directly to the student loan, they are an additional tax that is withheld from your payslips and when you lodge your tax return the amounts withheld for STSL are credited against the repayment amount. If not enough tax has been withheld throughout the year to cover the repayment amount you will be taxed accordingly. Thanks.
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Hi, STSL repayments are not paid directly to the student loan, they are an additional tax that is withheld from your payslips and when you lodge your tax return the amounts withheld for STSL are credited against the repayment amount. If not enough tax has been withheld throughout the year to cover the repayment amount you will be taxed accordingly. Thanks.
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