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HECS CALCULATION

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Newbie

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Replies 1

Hi,

 

Just few weeks back I have done my tax returner for 2018-19.

 

My gross income for 2018-2019 was $41 500

My TFB 16.922

 

Taxable income calculation

41.500 – 9.009.47= 32.490.53  taxable income.

To calculator HESC repayment

32.490 +16922 =49.412

 

My HECS repayment for the year should be $450.

 

The accountant made my gross income as taxable income and now ATO wants me to repay $2500 on HECS.

 

How do  I go about rectifiying the error as my accountant does not want to speak with me about it?

 

Kind Regards

1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Gingee 

 

Welcome to the ATO Community.

 

The best option is for you to contact us on the individual line and speak with a Higher Education - Help(HECS) consultant to review your account where they can assist with your query.

 

Thanks

MayW

 

1 REPLY 1
Highlighted

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Gingee 

 

Welcome to the ATO Community.

 

The best option is for you to contact us on the individual line and speak with a Higher Education - Help(HECS) consultant to review your account where they can assist with your query.

 

Thanks

MayW