HELP/HECS statements no longer to be forwarded by ATO

www.nomoney.com.au

 

The ATO have announced that they will no longer be forwarding HELP/HECS statements each year to show your HELP/HECS balance.

 

The reasoning behind not forwarding HELP/HECS statements is that you only need this information when you are making a voluntary payment.

 

If you make a voluntary payment over $500 you will receive a 5% reduction in your balance (eg. a $500 repayment would reduce your HELP debt by $550).

 

When doing your tax return you can use the ATO prefilling report to find out your HELP/HECS balance (and the amount of HELP/HECS repayment, if one is required), either by preparing your own return on E-tax or through your tax agent.

 

Even if you are preparing a paper tax return, you don’t need your HELP/HECS balance as the ATO automatically calculates any repayment required with your assessment.

 

Calling the ATO – identification required

If you need to call the ATO to find out your HELP/HECS balance, the ATO phone number is 13 26 61 (note, the ATO are open weekdays between 8am and 6pm). You can be waiting a while to talk to someone, so you might consider calling in non-peak times such as outside lunchtime and not at 5:45pm (as you might not get through to anybody).

 

Proving your identity

If you wish to call the ATO you will need:

Your TFN (Tax File Number)

And three of the following:

  • Your date of birth
  • Your phone number, business, residential, postal or email address (maximum of one)
  • Your bank account number (BSB not required)
  • Details from ATO notices (maximum of two notices) – eg. ATO sequence number from a notice of assessment
Posted in Debt, Tax, Uni
  • lol

    Um…5% of $500 is $25…

  • double lol

    Hahaha! $550….

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