Australian Apprenticeship Support Loans Act 2014
CHAPTER 3
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Loan repayments
PART 3.1
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INCURRING DEBTS
Division 3
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Accumulated AASL debts
SECTION 32
AASL DEBT INDEXATION FACTOR
32(1)
The AASL debt indexation factor for 1 June in a financial year is the number (rounded to 3 decimal places) worked out as follows: Method statement
Step 1.(a) the index number for the quarter ending on 31 March in that financial year; and
(b) the index numbers for the 3 quarters that immediately preceded that quarter.
Step 2.(a) the index number for the quarter ending on 31 March in the immediately preceding financial year; and
(b) the index numbers for the 3 quarters that immediately preceded that quarter.
Step 3.
32(2)
For the purposes of rounding an AASL debt indexation factor, the third decimal place is rounded up if, apart from the rounding: (a) the factor would have 4 or more decimal places; and (b) the fourth decimal place would be a number greater than 4.
View history note
Hide history noteThe AASL debt indexation factor for 1 June in a financial year is the number (rounded to 3 decimal places) worked out as follows: Method statement
Step 1.
Add:
Step 2.
Add:
Step 3.
The AASL debt indexation factor for 1 June in the financial year is the result of step 1 divided by the result of step 2.
32(2)
For the purposes of rounding an AASL debt indexation factor, the third decimal place is rounded up if, apart from the rounding: (a) the factor would have 4 or more decimal places; and (b) the fourth decimal place would be a number greater than 4.
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