Universities Accord (Student Support and Other Measures) Act 2024 (108 of 2024)

Schedule 1   HELP indexation

Part 5   Application of amendments made by Parts 1 and 3 of this Schedule

Division 1   Amendment of the Higher Education Support Act 2003

57   When refunds are required

If:

(a) the Higher Education Support Act 2003 as amended by this Schedule applies for the purposes of working out the following for a person:

(i) an *accumulated HELP debt;

(ii) a *former accumulated HELP debt; and

(b) because of the operation of item 56 of this Schedule, the amount previously paid by the person to the Commonwealth under Division 151 or 154 of Chapter 4 of the Higher Education Support Act 2003 as in force immediately before the commencement of Part 1 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 Chapter 4 of the Higher Education Support Act 2003 as amended by this Schedule; and

(ii) the total amount of the person's primary tax debts immediately before that commencement (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.