Our response to limit the spread of COVID-19 | Read here
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Financial news – The Future of HECS or HELP Fees


Do you remember when you used to get a nice discount when paying for your HECS or HELP fees, whether it be upfront or as a voluntary repayment?  That discount has been dropping over the past few years and subject to it being passed through parliament, the discount may be scrapped come 1 January, 2014.

The government has stated that the only people to be affected will be “those students that can afford” to either pay their uni fees upfront, or people who can afford to make voluntary repayments above the annual repayments through the PAYG tax system. Essentially, if you ever wanted to get the discount for paying for HELP fees up front or making a voluntary payment later on, you’re deemed as one of the “people who can afford” it and therefore, don’t need the discount.

Of greater importance, however, is should you be contemplating paying for your uni fees now, or making a voluntary payment should this new legislation come through? If you’re asking yourself a question like that, there is a good chance you need to take a broader look at your finances and work out if you should be saving to pay off your uni, or saving to buy some shares or your first property.


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Our response to limit the spread of COVID-19

  • As COVID-19 continues to spread, we would like to take a moment to let you know what Financial Spectrum is doing to respond.

    While we haven’t been directly affected with any confirmed cases, we are taking all reasonable precautions to remain safe.Our priorities are:

    1. Keep our staff and clients safe
    2. Stay fully operational in our service delivery and continuing to manage your financial affairs
    3. Play our part in minimising the impact on our community against the spread of COVID-19

    Financial Spectrum has the technology, infrastructure and systems to continue business as usual remotely and our staff will now be working from home.

  • You should notice no change to our service, with the exception that we are encouraging our clients to meet via video call, rather than face to face, unless requested. We will be contacting all clients with meetings booked over the next two weeks with instructions for a video call.This is an evolving situation and we will continue to monitor developments. We will keep you informed of any material changes to our approach.

    These are unprecedented times and we understand that many of you will be feeling unsettled about your finances. We would like to assure you that we are open for business and are here to help you. If you don’t have a meeting booked but would like one, or if you have questions, please contact us at info@financialspectrum.com.au or on
    02 8238 0888

Brenton Tong

Managing Director

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