Most graduates leaving university today do so with a massive debt hanging over their heads. They will take many years to repay their accrued HECS-HELP debt through the taxation system. There will be little relief for these graduates as the government has slammed the door shut on the tax deductibility of these repayments against the income earned.
The government also intends, for new students from 2021, to increase the amount many students pay towards their education. Popular courses such as humanities, commerce and law will cost them A$14,500 a year. A combined commerce/law or arts/law course, which are the most popular study choice for aspiring lawyers, will cost them over A$70,000.
The government constantly reminds us government-suppo…
Read the full article at: https://theconversation.com/let-working-graduates-claim-a-tax-deduction-for-their-hecs-help-debt-145027