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.
Hi there, My tax is in the final stages of being balanced, and I'm wanted to seek clarification about how my mandatory HELP payment gets paid? I just want to make sure it will actually get paid as the process has confused me. Because I have four dependents, it said I was exempt for the Medicare levy (which meant I wouldn't have to make a mandatory HELP repayment?) but there was no option in my tax return for that exemption category. Which is good because my HELP debt is at 36000 now and needs to be paid off! Will the roughly $1800 payment come from my refund, or will I be exempt because of the dependants, and then have to make a voluntary payment instead? I don't want to be "exempt" from making payments on my HELP forever, but the process confuses me and my tax agent couldn't give me a direct answer. I'm hoping during the balancing process that the mandatory repayment will come out. If not, I hope it's easier to make a voluntary payment. Hope this makes sense!