When am I going to receive my HECS refund?

Question

BrookeATO · Accepted Answer

We're processing recredits for the 2023 and 2024 index rate changes. Most people will see these credits on their account by end of January or sooner. Some credits will take a bit longer than others depending on how complex they are. But, you don't need to do anything in this process. Refunds are processed seperately and we're working to get them out as quickly as possible. Once we've processed your refund, it will appear on your Income Tax account as a debit. From there it will be sent to your bank account - but when it arrives depends on your banks processing times. Check out the changes to the HECS-HELP indexation and what it means for you (https://community.ato.gov.au/s/article/a07RF00000GZ9PoYAL/changes-to-hecshelp-indexation-and-what-it-means-for-you) for more info! [edited by moderator 13/12/2024]

BrookeATO · Answer

Have you contacted us about this? If your bank account has closed, you should update your details to ensure any future credits are being paid into the correct account. You can view more info on updating your bank details (https://www.ato.gov.au/individuals-and-families/tax-file-number/update-your-tfn-registration-details/update-your-financial-institution-details) on our website.

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