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Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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Re: HECS debt has not reduced at all in four years

Newbie

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Replies 3

I have been workign for the past four years. Each of those years i have earned above the threshold to pay back your HECS debt. My employer has always taken a portion of my income for my HECS/Help debt. I checked my balance today and it hasn't gone down at all and has in fact increased due to indexation. How can this be? 

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Most helpful response

Devotee

Replies 2

It can’t be. Are you sure you earned above the threshold to pay your HECS back? Whilst your employer may have withheld extra tax to cover an anticipated HECS debt, but if you lodge your tax return and your income is under the threshold to repay you will get all of gone extra tax withheld back as a refund, check your last few years outcomes of assessment in myGov. If you ha e made a compulsory repayment through your tax return you will see the repayment amount there.
3 REPLIES 3

Most helpful response

Devotee

Replies 2

It can’t be. Are you sure you earned above the threshold to pay your HECS back? Whilst your employer may have withheld extra tax to cover an anticipated HECS debt, but if you lodge your tax return and your income is under the threshold to repay you will get all of gone extra tax withheld back as a refund, check your last few years outcomes of assessment in myGov. If you ha e made a compulsory repayment through your tax return you will see the repayment amount there.

Newbie

Replies 1

Okay maybe my understanding of how it would be paid is incorrect . There has been a few years where I owed money for tax but then when I did all my deductions they owed me money back and I got a refund. But shouldn’t my employer be withholding enough tax from me so that it would cover the amount I need to pay back on HECS without me having to make a payment ?

ATO Community Support

Replies 0

HI @Jules59418 

 

Your notice of assessment will show any compulsory repayments if your income met the relevant threshhold for that year. Your deductions etc. could have brought your income down to below the threshhold so a compulsory repayment didn't apply after all. But definitely check your notice of assessments for the past few years to see if a HELP payment was included in the calculations of your liability.

 

Thanks, Ari