Implications of HECS debt on my tax return

[CKJ]

Mine pops up but because I haven't earnt over the threshold I don't have to pay any this year. Mine is around $2000 and I just scrape under.

When I resume working full time I'll opt to pay a bit more out of my pay each week/fortnight etc.

If etax said you'll get a refund and the hecs info is in there then you should be fine

[Beach Mama]

SOrry to go OT a bit but what is the threshold this year???

[FabFiona]

http://www.ato.gov.au/individuals/co...ntent/8356.htm

[Beach Mama]

Awesome fanks!

[Rowellen]

If etax said you'll get a refund and the hecs info is in there then you should be fine

^^ This.
The calculation should look something like this (slightly different format though ):
Income $xxxxx
Tax $xxxx
ML $xxx
HECS $xxxx (now called HELP)
Total Payable $xxxx
Less offsets (if any) $xxx
Less credits - PAYGW $xxxx
Net refund $xxxx

As long as ETax knows that you have a HECS debt, it should be included in your refund amount.

[Liviam]

WooHoo!!! Awesome tax refund - make sure you buy yourself something nice