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HECS/HELP repayment

Discussion in 'Accounting, Tax & Legal' started by eddyl, 24th Jun, 2008.

  1. eddyl

    eddyl Well-Known Member

    Joined:
    9th May, 2008
    Posts:
    48
    Location:
    Sydney
    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
     
  2. DaveA

    DaveA Well-Known Member

    Joined:
    19th Feb, 2007
    Posts:
    617
    Location:
    Sydney, NSW
    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.