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Re: HELP Debt

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Newbie

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Replies 2

Hello,

My question is related to the deductions from my pay towards the HELP debt. For each pay I receive, I see that there is a particular amount deducted by my employer as a HECS/HELP repayment. This has happened since the last tax period. I checked with my employer and they said the amount would sho up on the ATO website once their submissions to the ATO were complete. It's been almost 10 months now, but the ATO website still shows my entire loan amount as it was.

Who should I be contacting now, the ATO or my employer again? What could be the reson for this repayment not showing up?

Thanks in adavnce.

1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

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Replies 1

The additional tax held by your employer willl only come off your Help debt when you lodge a tax return for the FY where your extra tax has been held. If you lodge a return for the FY where extra tax has been withheld and you havent earned more than the minimum repayment threshhold any additional tax that has been withheld will not come off your debt but would form part of your gross tax withheld and be offset against any other tax debts you have or will be refunded to you as part of your tax reurn.

2 REPLIES 2
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Best answer

Initiate

Replies 1

The additional tax held by your employer willl only come off your Help debt when you lodge a tax return for the FY where your extra tax has been held. If you lodge a return for the FY where extra tax has been withheld and you havent earned more than the minimum repayment threshhold any additional tax that has been withheld will not come off your debt but would form part of your gross tax withheld and be offset against any other tax debts you have or will be refunded to you as part of your tax reurn.

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Newbie

Replies 0

Thanks for that info. Makes sense now.