Higher Education Support Act 2003

Chapter 4 - Repayment of loans  

PART 4-2 - DISCHARGE OF INDEBTEDNESS  

Division 154 - How is indebtedness compulsorily discharged?  

Subdivision 154-AA - Liability of overseas debtors to repay amounts  

SECTION 154-17   Assessed worldwide income  

154-17(1)    
A person ' s assessed worldwide income for an *income year is an amount equal to the sum of:

(a) the person ' s *repayment income for the income year; and

(b) the person ' s foreign-sourced income for the income year, converted into Australian currency.

154-17(2)    
The Overseas Debtors Repayment Guidelines may provide for how to work out a person ' s foreign-sourced income for an *income year, including how to convert it into Australian currency.

154-17(3)    
Without limiting subsection (2), the Overseas Debtors Repayment Guidelines may provide for a person ' s foreign-sourced income for an income year to be worked out in relation to a period that does not correspond to that *income year.