Education and Other Legislation Amendment (VET Student Loan Debt Separation) Act 2018 (116 of 2018)

Schedule 1 Separation of VET student loan debts from HELP debts

Insert:

accumulated VETSL debt : see subsection 23CC(1).

approved form has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953.

assessed worldwide income has the same meaning as in the Higher Education Support Act 2003.

compulsory VETSL repayment amount means an amount that:

(a) is required to be paid in respect of an accumulated VETSL debt under section 23EA or 23EC; and

(b) is included in a notice of an assessment made under section 23EE.

foreign resident has the same meaning as in the Income Tax Assessment Act 1997.

former accumulated VETSL debt : see subsection 23CB(1).

income tax has the same meaning as in the Income Tax Assessment Act 1997.

income year has the same meaning as in the Income Tax Assessment Act 1997.

Medicare levy means Medicare levy imposed by the Medicare Levy Act 1986.

minimum repayment income has the same meaning as in the Higher Education Support Act 2003.

repayable VETSL debt : see subsection 23EB(1).

repayment income has the same meaning as in the Higher Education Support Act 2003.

return means an income tax return within the meaning of subsection 995-1(1) of the Income Tax Assessment Act 1997.

taxable income has the same meaning as in the Income Tax Assessment Act 1997.

VETSL debt : see subsection 23BA(1).