HECS & Salary Sacrificing
Hoping someone can help me here who knows more about tax/accounting than I do?
Basically I earn a base salary of $61,000. I salary sacrifice a total of $18,550. I have a HECS debt of $46,659.55. Because of salary sacrificing, it bought me under the threshold to start repaying the debt, which I stupidly didn't notice until I got slapped with a tax bill.
My question is: how much should I be paying per week towards my HECS debt? I have calculated around $35/week, but not too confident in my ability to calculate all this.
Thanks!