Salary Sacrifice HECS Salary Packaging HECS & HELP Debt

Salary Packaging Hecs Debt. HECS debt IfanSauyer Salary packaging with a HELP/HECS debt You could still potentially benefit from salary packaging even if you have a HELP (Higher Education Loan Program) or HECS (Higher Education Contribution Scheme) debt. Hey everyone, I had a conversation with a colleague today regarding pre-tax contributions to a HECS debt

He's under the impression if you salary package it will be paid pre-tax - effectively reducing your taxable income If you'd like to know more about salary packaging for yourself or your employees, get in touch online or call 03 5229 4200.

Salary Sacrifice HECS Salary Packaging HECS & HELP Debt

If you pay HECS (Higher Education Contribution Scheme), Salary Packaging can have an impact on the amount you pay By salary packaging, Bob lowers his taxable income, resulting in considerable tax savings Before you commence salary packaging, you will need to tell your payroll department to take additional HELP or HECS repayments from your salary, otherwise you may end up with a bill at tax time.

Salary sacrifice and HECS r/AusFinance. Salary packaging with a HELP/HECS debt You can benefit from salary packaging even if you have a HELP (Higher Education Loan Program) or HECS (Higher Education Contribution Scheme) debt How does salary packaging with a HECS debt work? The same fundamental principles apply - you are paying for items such as living expenses with your pre-tax income, therefore being taxed less and having more in your pocket

Managing HECS Debt Repayment Paying Back Your Loan 2023 My Tax Daily. The top 4 myths around salary packaging with HECS debt, including a simplified process breakdown and all the benefits. Make more with The Salary Packaging People We're always trying to find ways to make your money go further