VET Student Loans Act 2016

Pt 3A inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.

Div 3 inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.

S 23CA amended by No 108 of 2024, s 3 and Sch 1 item 47, by inserting " and the Wage Price Index " in para (a) (first occurring) of the simplified outline, effective 5 December 2024. No 108 of 2024, s 3 and Sch 1 items 68 - 70 contain the following application provisions:

Division 5 - Amendment of the VET Student Loans Act 2016

68 Application of amendment of the VET Student Loans Act 2016  
(1)
The amendment of the VET Student Loans Act 2016 made by Part 3 of this Schedule applies for the purposes of working out a person ' s accumulated VETSL debt and a person ' s former accumulated VETSL debt for the financial year ending on 30 June 2023 and each subsequent financial year.

(2)
For the purposes of applying subitem (1) to the financial years ending on 30 June 2023 and 30 June 2024, a person ' s accumulated VETSL debt and a person ' s former accumulated VETSL debt are to be recalculated.

(3)
The transitional rules under Schedule 6 may specify how a recalculation under subitem (2) is to occur.
69 When refunds are required  
69
If:
(a) the VET Student Loans Act 2016 as amended by this Schedule applies for the purposes of working out the following for a person:

(i) an accumulated VETSL debt;

(ii) a former accumulated VETSL debt; and

(b) because of the operation of item 68 of this Schedule, the amount previously paid by the person to the Commonwealth under Part 3A of the VET Student Loans Act 2016 , as in force immediately before the commencement of Part 3 of this Schedule exceeds the sum of:

(i) the amount required immediately before that commencement to discharge the total debt that the person owes to the Commonwealth under Part 3A of the VET Student Loans Act 2016 , as amended by this Schedule; and

(ii) the total amount immediately before that commencement of the person ' s primary tax debts (within the meaning of the Taxation Administration Act 1953 );

the Commonwealth must refund to the person an amount equal to that excess.

Note:

Interest may be payable if the Commonwealth is late in paying refunds: see Part IIIA of the Taxation (Interest on Overpayments and Early Payments) Act 1983 .

70 Meaning of expressions  
70
Expressions used in this Division have the same meanings as they have in the VET Student Loans Act 2016 .

S 23CA inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.