How much help debt do i have

They won't take into account other income - from second or previous jobs or investment for instance - so you may have to make a top-up payment once you lodge your tax return.

Keeping receipts and claiming deductions for everything you're entitled to can reduce your RI and minimise your compulsory annual repayment amount. It is important to keep all work related receipts and to take advice on what you can claim in order to maximise your refund.

Read our ultimate guide to tax deductions. If you are working more than one job, each employer will only withhold additional tax to cover your HECS-HELP debt based on the income that they pay you. If your combined income from multiple employers is over the minimum repayment threshold, you will still be liable to make a repayment towards your HECS-HELP debt when you lodge your tax return. Use one of our Taxsaver envelopes to keep all your receipts and documents for the year.

Remember — if you are not sure if you can claim an expense, keep the receipt and we will ensure that we claim all allowable deductions and rebates for you whilst preparing your tax return.

Every year we help thousands of Australians achieve a better taxation result. For your nearest office call 13 23 Phone Appointments available. Find an office to book your appointment. The compulsory repayment threshold is adjusted each year.

The amount you repay each year is a percentage of your repayment income. The percentage increases as your income increases, so the more you earn, the higher your repayment will be. As your loan information is transferred to us from other government agencies, there may be a delay between when you acquire the loan and when it is reflected in your loan balance.

There is no interest charged on loan accounts. However, when your debt is more than 11 months old, the balance is subject to indexation, which is applied on 1 June each year. Indexation maintains the real value of the debt in line with changes in the cost of living as measured by the consumer price index CPI. The indexation figure is calculated each year after the March CPI is released. Show download pdf controls.