Universities Accord (Student Support and Other Measures) Act 2024 (108 of 2024)

Schedule 1   HELP indexation

Part 5   Application of amendments made by Parts 1 and 3 of this Schedule

Division 4   Amendment of the Student Assistance Act 1973

66   When refunds are required

If:

(a) the Student Assistance Act 1973, as amended by this Schedule applies for the purposes of working out the following for a person:

(i) an FS debt;

(ii) an accumulated FS debt;

(iii) the amount outstanding under a person's FS contract;

(iv) an accumulated ABSTUDY SSL debt;

(v) a former accumulated ABSTUDY SSL debt; and

(b) because of the operation of item 65 of this Schedule, the amount previously paid by the person to the Commonwealth under Part 2 or 4A of the Student Assistance Act 1973, as in force immediately before the commencement of Part 3 of this Schedule exceeds the sum of:

(i) the amount required immediately before that commencement to discharge the total debt or amount that the person owes to the Commonwealth under Part 2 or 4A of the Student Assistance Act 1973,as amended by this Schedule; and

(ii) the total amount immediately before that commencement of the person's primary tax debts (within the meaning of the Taxation Administration Act 1953);

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

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