I'm buying my first home. A condition of my mortgage is that I pay off my HECS in full. I need to do this by June 15 at the latest.
What date should I make the transfer to ensure I:
- get the full 20% reduction
- avoid indexation on June 1
I understand that if I overpay now (i.e. pay off the current balance before the reduction), this will be refunded at my next tax return but my finances are very tight and I don't want to wait several months before this would be returned on my next tax return.
Any advice would be much appreciated.
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209 views
1 replies