ok.. so i read about the estimate, in the list of things that might affect the estimate supplied being eligiable for the benefit is on there.. so it might change, but would have to be processed first.
i dont think i'm ready to bite the bullet yet and put it in cause i cant afford to pay it all yet.
Not sure about the application for the new lots of HECS.. BUT... it shouldnt effect your tax return for this year IF it was approved in the new financial year.. if it wasnt then it should already be counted in what is automatically there. If it was approved this financial year it wont be added til you do next years tax return..
The financial supplement part is a scheme the govt had where you could trade in half of your Austudy allowance and get twice as much back which you then have to pay off. i did this years ago and still havent earned enough to have to start paying it back yet.
Would you owe money coz with the contract work your doing your not paying tax out of it??? In which case can you do like a profit and los statement thing and include some of your petrol costs and things like that to offbalance your income amount???? Maybe you might need to give Uncle Bob a call
hecs will only show up if you have already got an accumulated debt
it won't reduce what you have to pay in tax (if anything, you may have to pay more if you have a hecs or financial supplement loan)
SB ~ the benefit is for 2010-2011 finacial year. and I am paying tax, even on my top ups.. so i dont know, somewhere along the line it obviously wasnt enough.. another reason to just get a normal job I guess =P oh and I forgot about Uncle Bob! thanks! I really should do that =)
BG ~ thanks. so is tax and HECS pretty much seperate? even though you pay HECS like tax? so they dont affect eachother?
they use the tax system to collect the money - so you pay a bit more tax each pay, and if you go over the thresholds, the ATO add HECS to your tax bill. but your HECS debt and your tax debt are seperate.
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