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That is what they say, but in fact you begin to repay when your weekly income is goes above $1057 (the equivalent og $55k p.a.) An unemployed friend of mine (who is not on the dole) managed to get a months contract work at about $1500 per week, so only earned about $6K for the entire year as that was his only income - he had Hecs repayments taken out of his pay.Quote:
Originally Posted by Toxic_Avenger
Garry
Might have worded that a bit odd, but for your mate, Yes that sucks.
But the other side of the coin is the person who makes under the threshold, and receives a large, annual bonus or similar which bumps them right over the threshold- no payments were taken thru the year, and it equates to a bigger tax bill at the EOFY. $1 earnings above the threshold could equate to a lump sum repayment of 4% on a $50K loan ($2K) without any provisions up until the time you hit 'go' on your tax return.
Hi weeds, I have a hecs-help debt and it costs me about $4k a year in repayments. It's the accommodation and food while you can't work full time the screws you over. That's where assistance is best used in my opinion. As for getting a hecs loan for all or part of it, I'd go all. I used to think I'd want to pay it off as soon as possible for the sake of the taxpayer and even voluntarily paid $5k off in my first year of work outside uni when I was earning well below the threshold. The next time I got my tax return back with that great little sheet that shows where the federal government wastes our money on bludgers and ungrateful aid recipients, I decided to pay back only what they demand.
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I'm at uni now,I'd rather have the money to spend on a new laptop, fuel, food etc. I don't buy books anymore, like others have posted it's a rip. Pat
Thanks guys......unfortunately the money is only for course fees so have to focus on that.
Just as an side, when buying text books look at somewhere like The Book Depository, many of my books were a third of the cost here and included free delivery.
I bought most of mine from there and will second thatQuote:
Originally Posted by CraigE