From 1 January 2017, the government will remove the 5% voluntary repayment bonus for HECS/HELP loans. This 5% bonus currently applies to voluntary HECS/HELP repayments of $500 or more. If you were thinking about making a voluntary payment towards your HECS/HELP debt, do it before 31 December 2016 to take advantage of the 5% discount. Give us a call if you need details on how to make a voluntary repayment.
DISCLAIMER: The information in this article is general in nature and is not a substitute for professional advice. Accordingly, neither TJN Accountants nor any member or employee of TJN Accountants accepts any responsibility for any loss, however caused, as a result of reliance on this general information. We recommend that our formal advice be sought before acting in any of the areas. The article is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our consent,
Jeanette has over 20 years experience as an accountant in public practice. She is a Chartered Accountant, registered tax agent and accredited SMSF Association advisor. When she is not helping business owners grow their empires, you will likely find her out running on the trails or at the gym. Book in to see Jeanette today.