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Hecs debt cuts to come into effect from mid-November
Tom McIlroy
Higher education debt relief will start flowing from next month, the Albanese government has confirmed.
In November and December, Australians with student debt will begin to see their balances reduced as the ATO implements the new 20% student debt cut.
Labor says the ATO will begin applying the cut from mid-November and anticipates that half of people with a student debt will see the 20% cut by the end of November.
Almost everyone else will see the cut applied to their balance by mid-December.
The cut will be backdated to balances on 1 June before indexation happened.
Graduates will be notified by text…