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HECS HELP Repayments not appearing in transactions

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How come HECS HELP Repayments from my employers have not shown up in the transactions in my ATO account? I have been earning more than the compulsory repayment threshold for almost one and a half years now and therefore have been making regular repayments through tax. Why are they not showing up even after tax returns were lodged? 

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Taxicorn

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@emtA 

 

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

You need to check your taxable/repayment income to see if, at the end of the financial year, you were required to pay.

Also, check that you didn't have any debts and the amount of your refund (could be higher than it should be).

 

 

 

 

 

 

1 REPLY 1
Highlighted

Best answer

Taxicorn

Replies 0

@emtA 

 

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

You need to check your taxable/repayment income to see if, at the end of the financial year, you were required to pay.

Also, check that you didn't have any debts and the amount of your refund (could be higher than it should be).