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Repayment of HECS debt upon death

Discussion in 'Living Room' started by Scott No Mates, 22nd Jul, 2016.

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Should a HECS debt be repaid from your estate if you die?

This poll will close on 22nd Jul, 2017 at 3:24 PM.
  1. Yes, it is a debt incurred by the deceased

    8 vote(s)
    88.9%
  2. No, it doesn't matter, it's only the government's money

    1 vote(s)
    11.1%
  1. Scott No Mates

    Scott No Mates Well-Known Member

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    The question of whether a HECS debt should be repaid if you die with money outstanding is a point of contention for some eg. low income earners.

    If financiers, ATO and others line up at death for outstanding money, why shouldn't the universities?
     
  2. sanj

    sanj Well-Known Member

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    Agreed although it wouldn't be the unis; it would be the government.

    are hecs debts currently extinguished upon death?
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Currently the amount owning in your final tax return is collected, but if there is a debt remaining after that it is not collected and you are not liable (as you won't be earning any more money while dead)