Did you know that if you move overseas and have a Higher Education Loan Programme (HELP) or Trade Support Loan (TSL) debt, you now have to make the same repayment obligations as those who live in Australia?
What you need to do
If you intend to move overseas for 183 days or longer in any 12 month period, you need to notify the ATO within seven days of leaving Australia. You must notify the ATO by updating your contact details, including international residential and email addresses.
You can also contact your Morrows advisor and we can take care of the details for you.
If you are already living overseas at 1 January 2016, you have until 1 July 2017 to update your details.
You will need to lodge a 2017 tax return declaring your worldwide income and if you earn income above the repayment threshold you will need to make compulsory loan repayments.
To find out more contact your Morrows advisor or visit the StudyAssist website.
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