Do You Know Someone Who Graduated ?

Discussion in 'Accounting & Tax' started by Paul@PAS, 15th Feb, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    There is a little known tax benefit some people are missing as its poorly communicated. Graduates after 2009 of the following courses who have a HELP debt may benefit :

    - Nursing, midwifery, teaching
    - Mathematics, statistics and science including teaching those fields
    - Early childhood education

    Once they commence work IN THEIR CHOSEN FIELD they can apply to ATO (up to 2 years backdated!!) for a HELP debt benefit which basically repays a good % of their compulsory repayments. And some people can double dip it !!
    This benefit is unavailable if the debt is repaid or they pay fees upfront etc.

    For eligible graduates its a simple form to complete and send to the ATO. They sort the rest out.

    The HELP benefit ends in the 2016/17 tax year but was paid in the 2015 and 2016 tax years also. So now is time to make sure eligible graduates apply.

    HECS-HELP Benefit - Study Assist
     
    Propin, smallbuyer, Danmicb and 9 others like this.
  2. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    @Paul@PFI, do you know if Engineering qualifies?
     
  3. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,776
    Location:
    ....UKI nth nsw ....
    Thanks for the link,not sure if our daughters know about this..
     
    kierank likes this.
  4. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    Nor my nieces...
     
  5. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    Good post Paul - know a lot in these fields back from uni days so sharing it around.
     
  6. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,194
    Location:
    Melbourne, Australia
    @Simon Hampel we need a new emoticon for "Wow, I am super impressed!"
     
    Gockie and kierank like this.
  7. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    Turns out they did, only because their father is an accountant :) :).
     
  8. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    Only an engineer would ask that.
     
    Mike A, Terry_w and kierank like this.
  9. Mike A

    Mike A Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    2,656
    Location:
    UNIVERSE
    should argue without an engineer you can't build a school or a hospital so engineers should be eligible :p
     
    kierank and wylie like this.
  10. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
  11. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    314
    Location:
    Melbourne
    Thanks. My daughter did double degree, nursing and midwifery, so hopefully twice the benefit
     
  12. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    Then an accountant comes along and places the business into liquidation :) :), then recommends the creation of a new business so we can start all over again.
     
    JohnPropChat likes this.
  13. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    :p
     
  14. Danmicb

    Danmicb Well-Known Member

    Joined:
    24th Jun, 2016
    Posts:
    163
    Location:
    NSW
    Legend!