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HECS paid out - do I need to do anything?

Newbie

Views 465

Replies 2

Hi all, 

 

I have paid out my HECS in full this week and I can see a zero balance in MyGov under "tax loans". The loan account still exists on the ATO protal in MyGov.

I have completed a new Tax Declaration Form for my employer so that the correct amount of PAYG tax can be withheld from this point forward. 

Is there anything else that I need to do to ensure that the HECS liability is discharged? 

Thanks in advance. 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 1

Hi @tfb1128

 

It must be great to have paid out your HECS debt. 

 

The loan account will continue to exist in your mygov account and will show the zero balance.

 

If you have competed a new Withholding declaration form advising your employer you no longer have a debt, that is all you need to do.

 

Hope this helps.

 

2 REPLIES 2

Most helpful response

Former Community Support

Replies 1

Hi @tfb1128

 

It must be great to have paid out your HECS debt. 

 

The loan account will continue to exist in your mygov account and will show the zero balance.

 

If you have competed a new Withholding declaration form advising your employer you no longer have a debt, that is all you need to do.

 

Hope this helps.

 

Newbie

Replies 0

Thanks Denise!