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Regarding HECS Repayments through your employer

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Hello!


Just starting out here.. I would very much appreciate your help and insight! Please let me know if my question is deemed inappropriate or off the focus of this forum Smiley Happy


I have a question in regards to my HECS help loan and compulsary repayments through your employer.


Last year, my total taxable income was about $52,000. I had been taxed an amount of ~$11,000, which basically comprised of a little less than $10,000 as PAYG Tax and the rest as HELP Component (according to the final payslip I received from my employer that year. My payment summary reflected the same amount, except that it didn't lay out the different components but only the grand sum).


At the end of the FY, I lodged my tax return and received a refund of ~$1,500.


Later, upon checking my loan balance on myTax, I discovered that there has been no contribution whatsoever. I reached out to my employer to find out why this is so, however they could not provide a clear answer & urged me to contact my accountant (which I don't have nor think that I need one just yet) or ATO.


So I ended up here Smiley Happy I'm guessing (wildly) the reason for this is because my total income did not exceed the minimum threshold level which supposedly determines whether one starts paying back the loan or not.. But then again, if this was the case, a simple maths would suggest that I should have been paid back more for my tax return, because my employer had withheld a portion of my net pay for 'HELP Component', which in fact, turned out to have never been reflected on my ATO loan account?

 

One thing to mention is that they (employer) only deduct this HELP Component when my rate is higher than usual, say, overtimes or weekend shifts etc.


(FYI, I am employed on a casual basis, yet on average I work around 37~8 hrs / week)


Any advice would be greatly appreciated! Thank you for reading.


Hanyi L.

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Hi @hanyi_lee

 

Welcome to our Community!

 

Check out our helpful article on Paying my HELP debt which explains how the HECS/HLEP system works and how payments are calculated. 

 

Your notice of assessment (NOA) will provide information on what your taxable income was for the financial year and how your refund was calculated. As we can't guarantee it's safe to share personal information in an online forum, we can't access your account to provide an account explanation. You can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator who can provide a full account explanation. 

 

Thanks, JodieH. 

 

1 REPLY 1

Best answer

ATO Certified

Community Support

Replies 0

Hi @hanyi_lee

 

Welcome to our Community!

 

Check out our helpful article on Paying my HELP debt which explains how the HECS/HLEP system works and how payments are calculated. 

 

Your notice of assessment (NOA) will provide information on what your taxable income was for the financial year and how your refund was calculated. As we can't guarantee it's safe to share personal information in an online forum, we can't access your account to provide an account explanation. You can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator who can provide a full account explanation. 

 

Thanks, JodieH. 

 

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