PAYG instalments
The PAYG instalment rate and instalment amount advised by the Commissioner (for more information on PAYG instalments see 4.700) takes into account a taxpayer accumulated HELP debt (if any). The taxpayer can vary their instalment rate or amount to take into account their personal circumstances.
If the taxpayer pays off their accumulated debt with a voluntary repayment during the year, after the taxpayer has been advised of their instalment rate or amount, they may want to vary their instalment rate or amount to take out the HECS or HELP component.
4.513 Voluntary repayments
Subject to the passage of legislation, from 1 January 2014, the Australian Government will remove the upfront HECS-HELP discount of 10 per cent for eligible ...
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