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,