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Hecs / Fee-Help Question & Paid Parental Leave Question


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#1 CookiesandCream

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Posted 18 September 2010 - 06:45 PM

I think for the 2010-2011 Financial Year my yearly income will be under the threshold due to maternity leave (that is without the Paid Parental Leave). When I do my tax does that mean I get everything I paid throughout the year back?

Also can you opt to take Paid Parental Leave (the 18 weeks from the government) at a later date? e.g. could I plan to start maternity leave in March or April 2011, can I apply to have the PPL start say in July or August 2011?

Just curious because if I get the money back that I have paid for HECS then that will come in handy while on maternity leave, however if I have to take the PPL straight away then it won't matter because that would push me back over the threshold.
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#2 BakingSnuffy

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Posted 19 September 2010 - 11:16 AM

I am hoping I can manage this predicament!

If your fortnightly tax is currently taking HECS out and you come in under the threshold for the financial year, then you will get all of the HECS component back in your tax. The minimum HECS yearly repayment is something like $1800, so the HECS amount you recieve back will be under that.

However, not knowing your financial situation, going on what has happened to me before. You may be entitled to a few other 'tax breaks' if you come in under HECS amount.

With the PPL, you are entitled to have this commence at any time within the first year after the birth of a child smile.gif So yes, you can take it after the start of the new financial year.

I hope this has helped a little. My head is a bit fuzzy today.




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