PART 6
-
RE-CREDITING HELP BALANCES
History
Pt 6 heading substituted by No 76 of 2018, s 3 and Sch 3 item 131, effective 1 January 2020. No 76 of 2018, s 3 and Sch 3 items 145 and 146 contains the following transitional provisions:
…
145 Transitional
-
re-credited amounts
145
If, before 1 January 2020, an amount was re-credited to a person
'
s FEE-HELP balance under:
(a)
Subdivision
104-B
of the
Higher Education Support Act 2003
; or
(b)
Subdivision
7-B
of Schedule
1A
to that Act; or
(c)
Part
6
of the
VET Student Loans Act 2016
;
section
128-15
of the
Higher Education Support Act 2003
(as amended by this Schedule) has effect as if the amount had been re-credited to the person
'
s HELP balance immediately after the start of 1 January 2020.
146 Transitional
-
pending decisions about re-credited amounts
146
If:
(a)
an application for the re-crediting of an amount to a person
'
s FEE-HELP balance was made before 1 January 2020; and
(b)
the application was made under:
(i)
section
104-25
of the
Higher Education Support Act 2003
; or
(ii)
clause
46
of Schedule
1A
to that Act; or
(iii)
section
72
of the
VET Student Loans Act 2016
; and
(c)
no decision was made on the application before the commencement of this item;
the application has effect, after the start of 1 January 2020, as if it were an application for the re-crediting of the amount to the person
'
s HELP balance.
…
Pt 6 heading formerly read:
PART 6
-
RE-CREDITING FEE HELP BALANCES
Division 4
-
Re-crediting by Secretary on discharge of debt
History
Div 4 inserted by No 116 of 2018, s 3 and Sch 1 item 76, effective 1 January 2020.
SECTION 73A
WHEN SECRETARY MUST RE-CREDIT HELP BALANCE
-
DISCHARGE OF DEBT
73A(1)
If, during:
(a)
the financial year starting on 1 July 2019; or
(b)
a later financial year;
a payment was made in discharge of the whole or a part of a debt that a person owes to the Commonwealth under Part
3A
, the Commissioner must:
(c)
notify the payment to the Secretary; and
(d)
do so as soon as practicable after the end of that financial year.
Note 1:
The payment may be a voluntary repayment.
Note 2:
The payment may be in the form of the application of an amount against the debt.
73A(2)
If the Secretary is so notified, the Secretary must re-credit the person
'
s HELP balance with an amount equal to the amount of the payment.
Note:
Re-crediting under this Division does not have the same effect as re-crediting under Division 2 or 3 (re-crediting under those Divisions results in remission of the debt concerned: see section
23BA
). For debts incurred before 1 July 2019, see section
137-19
of the
Higher Education Support Act 2003
(which applies unless an amount is re-credited under section
128-25
of that Act).
History
S 73A inserted by No 116 of 2018, s 3 and Sch 1 item 76, effective 1 January 2020.
View history note
Hide history note