HECS repayment calculations for Accountants Enterprise Tax Returns 2019

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Highlighted
Contributing Partner
8 Posts
Contributing Partner
Australia
Contributing Partner

8Posts

1Kudos

0Solutions

HECS repayment calculations for Accountants Enterprise Tax Returns 2019

Hi,

 

Is there a way to fix an issue we are having in Accountants Enterprise with Tax Returns and the calculation of HECS repayments?

 

We have 2 tax returns - both with taxable income in the $51,957-$57,729 threshold for repayment, so AE Tax should be calculating a repayment of 2% in accordance with the ATO's table.  Currently the tax return with taxable income of $56,000 is not calculating any repayment at all despite the HECS debt balance being entered into the correct spot.  The 2nd tax return with taxable income of $53,000 is correctly calculating a 2% repayment.  All settings are exactly the same, and neither have any salary sacrifice or anything that would impact.

 

Any way of manually forcing AE to calculate a HECS repayment (not that we shouldhave to!)?

 

Thanks

Meg

2 REPLIES 2
Highlighted
4 Posts
User
Australia

4Posts

5Kudos

0Solutions

Re: HECS repayment calculations for Accountants Enterprise Tax Returns 2019

Hi,

 

We are having the same issue. Our client has a taxable income of $52,780 plus Reportable Fringe Benefits of $25,383. They should be paying 5.5% HECS on $78,163 but AE Tax is not calculating any HECS repayment!

This could be easily missed. Not good!

 

Thanks

Brooke

Highlighted
1 Post
User

1Posts

0Kudos

0Solutions

Re: HECS repayment calculations for Accountants Enterprise Tax Returns 2019

We also have the same issue. My client has taxable income of $44,661 and Reportable Fringe Benefits of $28,175. Should be paying 5% HECS repayment and AE is calculating none at all.

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post