The Australian Government indexes HECS-HELP loans each year on the 1st of June.
The Australian Government indexes HECS-HELP loans each year on the 1st of June. The percentage in which the debt amount will go up is directly linked to the cost of living (i.e. inflation).
On the 1st of June 2023, the HECS-HELP loans are predicted to increase by up to 7-8%. If you have a HECS-HELP loan, consider making an early payment before 1 June 2023 if cash flow permits. Individuals with low balances might be tempted to clear their HECS-LOAN balance altogether.
If you’re keen to explore changing accountants, we have a non-obligation process to do that. The first step is booking a strategy call with one of our accounting team. It’s a free 20-minute zoom or phone call where you get to meet us to manage your questions.
From that point, you can consider doing a “Look Under The Hood” with us. There is no obligation to change accountants, but we give you a second opinion if you’re paying too much tax.
Throughout that process, we can identify any problems we see with your current setup. Anything that your current accountant hasn’t claimed, or tax you may have overpaid, and strategies of how we might fix that going forward. We can run through with you once you book with us.
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