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_oukakin(Newbie)Newbie
27 July 2021

Hi there,

I have recently received my tax return and am confused as to whether the following has been captured or will it be something dealt with separetly.

In the last financial year, my employer withheld a total of $12,116 to be paid to my HECS debt come tax time. The remainder of my HECS debt was $11,107. Therefore, my HECS debt is now fully paid off. However, I have noted that from the $12,116 withheld and only $11,107 needing to be paid, there is a remainder amount of roughly $1008.

My question is, has this $1008 been incorporated into my tax return or will it be refunded back to be separetly. Do I need to do anything? Is the $1008 withheld by my employer still? or ATO.

Cheers,

Tom

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682 views
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Most helpful replyATO Certified Response

RochL(Master)Master
ATO Certified Response28 July 2021

HI @oukakin,

Congratulations on paying off your HELP(HECS) loan!

Any excess amounts withheld (after offsetting against any other debts) would have been refunded to you as part of your tax return. It is not a separate payment.

If you want to make sure your employer stops withholding extra now that your loan is paid, you can complete a Withholding declaration and give it to your employer.

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Most helpful replyATO Certified Response

RochL(Master)Master
ATO Certified Response28 July 2021

HI @oukakin,

Congratulations on paying off your HELP(HECS) loan!

Any excess amounts withheld (after offsetting against any other debts) would have been refunded to you as part of your tax return. It is not a separate payment.

If you want to make sure your employer stops withholding extra now that your loan is paid, you can complete a Withholding declaration and give it to your employer.

_oukakin(Newbie)Newbie
28 July 2021

Thanks RochL, definitely was satisfying to pay off my student loans.

How can i validate this? As based on my tax return breakdown via the Notice of Assessment - I don't think the $1008 has been incorporated.

Is there someone that can help check for me?

Cheers,

Tom

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My employer withheld 12k for Student Loans for 2020-2021. My remainder HECS debt was 11k. | ATO Community