Your renewable HELP balance and re-borrowing your repayments When you do your tax return, the ATO will calculate your income for the year and tell you how much your compulsory repayment is. The more you earn, the higher your repayment will be. You can make a voluntary repayment to the Australian Taxation Office (ATO) at any time. Voluntary repayments are in addition to compulsory repayments and are not refundable. If you are already working but are not yet having PAYG amounts withheld from your pay, you can tell your employer to start withholding amounts or complete a Withholding declaration online when logged in to your myGov account. These are used to cover your compulsory repayment amount when it is calculated by the ATO. Your employer will use the Pay as you go (PAYG) withholding system to withhold amounts from your pay throughout the year. If you are working, you must advise your employer if you have a HELP debt. If you do not earn above the threshold, you will not have to make a repayment on your debt. Your compulsory repayments are calculated based on your income, not the size of your debt. The compulsory repayment threshold for the 2023-24 income year will be $51,550.The compulsory repayment threshold is different each year. You begin to pay back your HELP debt through the tax system once you earn above the compulsory repayment threshold. There are two ways to repay your HELP debt directly through the Australian Taxation Office (ATO).
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