Higher Education Support Amendment (2008 Budget Measures) Act 2008 (43 of 2008)

Schedule 1   HECS-HELP benefit

Higher Education Support Act 2003

8   After section 154-1

Insert:

154-3 Reduction of liability by HECS-HELP benefit

If the *Commissioner has determined, in respect of a person, an amount of *HECS-HELP benefit under section 157-20 for an *income year, the amount that the person is liable to pay under section 154-1 for that year is reduced by the amount of the benefit.

Note 1: The calculation of a person's compulsory repayment amount under section 154-1 remains unaffected. A person's accumulated HELP debt is reduced by compulsory repayment amounts under Division 140. The HECS-HELP benefit reduces a person's liability that arises under section 154-1, so that the amount that the person will actually pay (if any) will be less than the compulsory repayment amount calculated.

Note 2: If a determination is reviewed, a reference to the determination includes a reference to the decision on review, see section 157-30.