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Re: Stopping FEE-HELP deductions and claiming incorrect deductions

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Newbie

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Replies 1

I paid off my entire FEE-HELP loan on 22 December 2016. Yet the deductions have continued on my salary for the last 7 months. 

 

1. How do I stop these deductions?

2. How do I claim back the amount that the ATO has continued to charge me since 22 Dec 2016?

 

Thanks.

1 ACCEPTED SOLUTION

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Best answer

ATO Certified

Devotee

Replies 0

Hi @vaishnavsr,

 

Thanks for getting in touch! When you first start working for an employer, you need to advise them on your Tax File Number declaration form that you have a government subsidized loan (like FEE-HELP). Your employer will then withhold the additional amount and send it to us with your pay as you go tax each year.

 

We don't withhold any amounts from your pay - it's all managed by your payroll office. Now that you've paid off your loan, you need to ask your employer to stop withholding the extra amount for you by completing a Withholding Declaration (NAT 3093). Submit the completed form to your payroll and they should correct your withholding rate in your next pay cycle.

On the plus side, if it turns out that your payer has withheld too much tax this financial year, any additional withholding will be returned to you as a refund when you lodge your tax return.

 

Hope that helps!

1 REPLY 1

Best answer

ATO Certified

Devotee

Replies 0

Hi @vaishnavsr,

 

Thanks for getting in touch! When you first start working for an employer, you need to advise them on your Tax File Number declaration form that you have a government subsidized loan (like FEE-HELP). Your employer will then withhold the additional amount and send it to us with your pay as you go tax each year.

 

We don't withhold any amounts from your pay - it's all managed by your payroll office. Now that you've paid off your loan, you need to ask your employer to stop withholding the extra amount for you by completing a Withholding Declaration (NAT 3093). Submit the completed form to your payroll and they should correct your withholding rate in your next pay cycle.

On the plus side, if it turns out that your payer has withheld too much tax this financial year, any additional withholding will be returned to you as a refund when you lodge your tax return.

 

Hope that helps!