HELP voluntary repayment bonus: take advantage before 1 January 2014

The ATO reminds taxpayers that the Government has proposed to remove the 5 per cent HELP voluntary payment bonus which applies to payments of $500 or more from 1 January 2014 (subject to the passage of legislation). It says taxpayers who make a voluntary payment of $500 or more before 31 December 2013 will still receive the bonus. For taxpayers who want to take advantage of the discount before 31 December 2013, the ATO advises that they should allow sufficient time for their payments to be processed.