My income this year was well below $50,000. Some weeks I earned over $1,000 so I had some of my payment withheld to pay off my HECS debt. Since over the course of the year my income was less than $52000 (which is what you must earn to pay HECS), will I get that money back that my employer deducted for HECS payments?
Thanks.
Thank you
Pay your debt!
It's not about paying your debt. It's about the fact that there are thresholds which are set before the debt must be repaid. At this income, the amount being withheld is probably better spent on other living expenses.
It is probably the best loan anyone will ever get ever, it would be stupid to pay off HECS when you earn less than the threshold.
Yep - when you file your tax it won't take the deduction.
In ETax it's the the last option I believe, make sure you still say you have a HECS debt and input the appropriate amount.