Should all of Tim's winnings go on his HECS fees?

[pawlini]

I just saw Tim on the TV this morning telling a host he had been at uni for 11 years! Surely that would mean he owes a lot in HECS fees? Can the government take winnings as payment? I think he should pay it back and give back to society and start from scratch off his own back now with his popularity.

 

[Gemini]

You only have to start paying HECs fees when you've completed your degree and are earning a certain amount in that field.

 

[Inigo Montoya]

No.....

 

[Insomniac]

You only have to start paying HECs fees when you've completed your degree and are earning a certain amount in that field.

It doesn't have to be in that field, can be work in another field as long as your taxable income is over a certain threshold.

But his winnings l don't believe are subject to income tax so they wouldn't count towards it.

 

[Gemini]

It doesn't have to be in that field, can be work in another field as long as your taxable income is over a certain threshold.

Oh really? Shiiiittttt I think I might owe some money (I honestly have no idea how it works now). I was told they could only start taking it once you started earning $45k+ in that field.

Feck.

 

[Insomniac]

Oh really? Shiiiittttt I owe some money. I was told they could only start taking it once you started earning $45k+ in that field.

Feck.

l think it's gone up to around $51,000 this year . A lot higher threshold actually than when I went to Uni.
On this site:
http://www.ato.gov.au/Rates/HELP-repayment-thresholds-and-rates/

 

[Gemini]

l think it's gone up to around $51,000 this year . A lot higher threshold actually than when I went to Uni.
On this site:
http://www.ato.gov.au/Rates/HELP-repayment-thresholds-and-rates/

Thanks [MENTION=31088]Insomniac[/MENTION]!

 

[Insomniac]

No problem

 

[Grillzz]

And you certainly don't have to complete a degree in order to pay HECS.

 

[Pookie]

He has probably spent it all already...in his mind.

 

[pawlini]

Well with all the money he would be making from nightclub appearances and now hosting a show on 2dayFM, I hope they are on his arse about it. freeloader, unless he was already that rich his parents paid for 11 years of uni?

 

[prufrock]

Well with all the money he would be making from nightclub appearances and now hosting a show on 2dayFM, I hope they are on his arse about it. freeloader, unless he was already that rich his parents paid for 11 years of uni?

He still doesn't even have a degree. he's been part-time with gaps, so he doesn't owe a great deal anyway (except for the fact that no-one should have to pay to go to university). Maybe lay off comments like 'freeloader' until you actually know what you're talking about.

 

[missbrightside]

i dont think he was at uni full time so although 11 years seems like a lot money wise it probably isn't as much as you think?

 

[Insomniac]

i dont think he was at uni full time so although 11 years seems like a lot money wise it probably isn't as much as you think?

you're right, it all depends on how many units of study he did and other variables like up-front payments. He probably had semesters off as well.

 

[davidftw]

He'll pay off his HECS once he earns over a certain amount in his tax return. Who cares anyway? Everyone in Australia is entitled to the same "deal", Tim will be treated the same as anyone else. He might not even owe anything, a lot of people pay up front to get big discount.

He'll probably have to pay tax on his BB winnings too, because they are probably hired under the guise of "actors" with a weekly stipend as opposed to a windfall game like Tattslotto or in a gameshow.

 

[pecan]

He probably has been paying it off over the years with the work he's done in radio etc. I agree he shouldn't be singled out any more than anyone else as far as that goes.

Drewftw, from memory I think the ATO ruled for one of the previous winners (Trevor?) that the winnings are tax-free. The housemates' stipend is considered separately.

 

[Sorceress]

I just saw Tim on the TV this morning telling a host he had been at uni for 11 years! Surely that would mean he owes a lot in HECS fees? Can the government take winnings as payment? I think he should pay it back and give back to society and start from scratch off his own back now with his popularity.

You do realise he probably hasn't been there the whole time or he's probably deferred and only done one or two subjects per semester.

 

[Max Power]

He should do whatever he wants to do with the money.

 

[bleachy_dude]

He won't pay HECS from his prize money as it's not taxable income.

Oh really? Shiiiittttt I think I might owe some money (I honestly have no idea how it works now). I was told they could only start taking it once you started earning $45k+ in that field.

Feck.

Do you tick that you have a HECS debt in your tax return? It automatically take it out of your return when you are earning enough.

 

[Gemini]

Do you tick that you have a HECS debt in your tax return? It automatically take it out of your return when you are earning enough.

After reading this here I contacted them out of curiosity and they said it'll start being collected out of my next tax return because this is the first year I'll be working full time since I graduated.