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Compulsory Hecs Repayment Cancelled

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Newbie

Views 471

Replies 2

Hi, I’ve recently lodged my tax return for the FY18-19. I was looking at my HECS balance and noticed my compulsory payment was there and credited to my balance but the following day it says it has been cancelled and debited from my hecs balance. I’m back to the same balance prior to submitting my tax return.
What does this mean?
Thank you.
1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

Newbie

Replies 0

Thanks for your reply. I’ve since spoken with the ATO. They incorrectly calculated the repayment amount and it’s been reapplied with the original lodgement date.
2 REPLIES 2
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Taxicorn

Replies 1

Either you didn't earn enough to pay the Heccs debt and would have received the money back as a refund or you had a government debt and your contributions were used to repay that debt back.

 

Highlighted

Best answer

Newbie

Replies 0

Thanks for your reply. I’ve since spoken with the ATO. They incorrectly calculated the repayment amount and it’s been reapplied with the original lodgement date.