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by nevdka
2715 days ago
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Our taxes work the same way, but HECS repayments don't work the same way as tax. When you hit the threshold, you pay the percentage on your entire income, not just the income over the threshold. There are also multiple thresholds, so when you hit $57,730 you go from paying 2% of your total income to 4% of your total income. Personally, I've turned down overtime due to being just below one of the thresholds. The repayment scheme is stupid. |
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