HECS question (1 Viewer)

[strawberry]

hey ppl,

just wondering, with the defered HECS,

does the repayment actually come out of our gross income OR income after taX??

 

[Dingo2004]

gross income
your hecs becomes a part of your tax

 

[jase_]

Your HECS payments are separate to your income tax payments. They are about 3% of your pay when you reach around ~$25k and 6% on the next level higher, and so on. The exact information is probably on the HECS website somewhere at http://www.hecs.gov.au . You won't get any HECS payments taken out of your pay until you reach the first threshold.