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.