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Re: Hecs overpaid

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What happens when you realise you have overpaid Hecs? I stopped payments at 30th June 2018. My payslip 28.6.18 says I paid $3500 year to date,.to Hecs. My Hecs data on mygov says I owed $2400. . I used a tax professional and have received a receipt for my 2018 tax return as was estimated. Nothing is mentioned of overpayment. What happened to my $1100 overpayment? Is there a number to call to help me understand this?

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Hi @1amazing,

 

Welcome to our Community!

 

@macfanboy is correct - you can find information about your HECS account on our website.

 

If you're return has been processed and you've received your Notice of assessment (NOA) you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator. Have your TFN with you when you call so the operator can ask you some identity questions to access your account and provide an account explanation. Your tax practitioner who lodged your return would also be able to explain your NOA to you.

 

Thanks, JodieH.

 

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Devotee

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The money taken out is not used to immediately repay your debt but held as a credit by the ATO until you lodge your tax return at the end of the financial year. Once your correct taxable income and repayment income is known any credit that is not needed to pay back any additional tax payable or government debts will then be used to repay the debt. Any surplus or shortfall will then be credit/debited to you.

Best answer

ATO Certified

Community Support

Replies 0

Hi @1amazing,

 

Welcome to our Community!

 

@macfanboy is correct - you can find information about your HECS account on our website.

 

If you're return has been processed and you've received your Notice of assessment (NOA) you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator. Have your TFN with you when you call so the operator can ask you some identity questions to access your account and provide an account explanation. Your tax practitioner who lodged your return would also be able to explain your NOA to you.

 

Thanks, JodieH.

 

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