It was a matter of ticking the box. Izzie didnt and now she has a $5000 tax headache. Chartered accountant GAIL FREEMAN shares the tale of woe.
Izzie came to see me upset at not getting a tax refund this year. Worse still, she had just received her tax assessment and she has a debt of $5000.
I dont know how I can afford to pay it, she said in despair.
Looking at her assessment, it appeared that the problem was her HECS-HELP debt.
The process for repaying a HECS+HELP debt is through your weekly tax installments, I said.
When you started your new job, you should have completed a new TFN declaration and answered question 9(a): Do you have a HELP debt? by ticking the yes box. Likewise for a Financia…
Read the full article at: https://citynews.com.au/2023/izzie-needed-help-with-her-help-debt/