Can you salary sacrifice hecs repayments

The actual administration fee that applies to you may vary depending on your employer and may alter the calculation. Estimated annual benefit based on the assumption that an employee does not have any accumulated Financial Supplement debt.

Your benefits will vary depending on your income and personal circumstances. Benefits and savings will vary depending on personal objectives, financial situation and needs. Maxxia recommends obtaining independent financial advice before making any financial decisions. Eligibility criteria and terms and conditions apply. All salary packaging proposals are subject to the requirements of the employer.

Fees and charges apply. Maxxia may pay and receive commission or rebates in connection with some services and products it provides or arranges to be provided by third parties. RemServ may pay and receive commission or rebates in connection with some services and products it provides or arranges to be provided by third parties. Please also seek financial or taxation advice if you're unsure.

Our knowledgeable experts have answers to most common questions: check out our full FAQs list. The capacity in which we act and the financial services we are authorised to provide are set out in our Financial Services Guides. We act as an agent for those licensees and not for you. RemServ collects your personal information from you when you apply for a product and request any information from us, and we may use this information to contact you about our products, services and offerings.

To read more about how we handle your personal information, please read our Privacy Statement. Does it matter how much I drive? What is Fringe Benefits Tax? If you use an Australian registered tax agent to lodge on your behalf, they can lodge after the usual 31 October deadline. You can make voluntary repayments at any time to reduce the balance of your debt.

Some people use salary packaging arrangements with their employers to pay off their loans faster by making voluntary repayments. Entering into a salary sacrifice arrangement may result in your payer providing a fringe benefit to you. You should seek financial advice before entering into this arrangement. Any voluntary repayments are non-tax-deductible.

Upfront organisation will save you precious pennies. This can reduce your taxable income and minimise your compulsory annual repayment amount.