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d_b
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I have just done my tax returns for 2017, and the notice of assessment has come back with a hecs debt repayment that includes my debt as it stood one month ago - eofy '18.
 
I'm wondering why any repayment is not based on what my hecs debt was as of 30 June 2017?
Is this something I should object to, as how can my tax of the year before be paying for studies i have not yet begun?
 
thanks for your knowledge Smiley Happy
db
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Devotee

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Hi @d_b,

 

Thanks for your post! It sounds like you lodged your 2017 income tax return after 1 June 2018.

 

Your higher education loan program (HELP) account is indexed on 1 June each financial year. If you lodge your tax return after this date, and your income is over the HELP repayment income threshold, your HELP assessment amount will be based on your account balance as at 1 June.

 

If you'd like a detailed explanation of your notice of assessment or your HELP account, phone us on 13 28 61 between 8:00am and 6:00pm Monday to Friday and select option 4, then option 3 from the automated voice menu.

 

Thanks!

1 REPLY 1

Best answer

Devotee

Replies 0

Hi @d_b,

 

Thanks for your post! It sounds like you lodged your 2017 income tax return after 1 June 2018.

 

Your higher education loan program (HELP) account is indexed on 1 June each financial year. If you lodge your tax return after this date, and your income is over the HELP repayment income threshold, your HELP assessment amount will be based on your account balance as at 1 June.

 

If you'd like a detailed explanation of your notice of assessment or your HELP account, phone us on 13 28 61 between 8:00am and 6:00pm Monday to Friday and select option 4, then option 3 from the automated voice menu.

 

Thanks!

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