Hi, I attended uni for 4 years and have a hecs debt of 18000 dollars. Because my annual salary puts me in the range where I have to start paying back my debt, these are deducted from my weekly take home pay. However, as I only started work this year I do not fall into the full year salary range where I have to repay my hecs debt. Will I get my hecs repayments back in my tax return or once paid do they stay that way? Cheers, Eddy
They should be taking extra tax out of your wage but if you earn under $39,800 this financial year you will get that portion back in your tax return. This $39k is after tax deductions but INCLUDES any rental losses.