Repaying your Financial Supplement debt 2011-12

Starting repayment

You must start repaying your debt when your repayment income is above the minimum repayment threshold for compulsory repayment. Compulsory repayments are made through income tax assessments. You don't have to provide Financial Supplement debt information in your tax return. If you have a debt, and your repayment income is above the minimum repayment threshold, we will work out your compulsory Financial Supplement repayment and include it on your notice of assessment.

If you had more than one debt in the past, they were combined to become your accumulated Financial Supplement debt. We calculate one compulsory repayment on your accumulated Financial Supplement debt for each income year.

The repayment thresholds are adjusted each year to reflect any changes in average weekly earnings. For the 2010-11 income year, the minimum threshold was $44,911. For the 2011-12 income year, it is $47,195.

Sections within Compulsory repayments

• Starting repayment
• Repayment income
• Calculating compulsory repayments
• Low family income
• Making a compulsory repayment
• Deferring repayment
• How do you apply for deferment?
• Application process
• Unable to pay your tax debt on time
• Objecting
• Tax deductions