Student Assistance Legislation Amendment Act 2006 (47 of 2006)

Schedule 1   Amendments relating to the Social Security Act 1991

Part 2   Amendments concerning repayment of accumulated FS debt

Division 1   Main amendments

Social Security Act 1991

21   At the end of Division 4 of Part 2B.3

Add:

1061ZZEYA Refunding of payments

If:

(a) a person pays an amount to the Commonwealth under this Division; and

(b) the amount exceeds the sum of:

(i) the amount required to discharge the total debt that the person owed to the Commonwealth under this Part; and

(ii) the total amount of the person's primary tax debts (within the meaning of Part IIB of the Taxation Administration Act 1953);

the Commonwealth must refund to the person an amount equal to that excess.

Note: Interest is payable if the Commonwealth is late in paying requested refunds: see Part IIIA of the Taxation (Interest on Overpayments and Early Payments) Act 1983.