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 5   Amendment of the VET Student Loans Act 2016

69   When refunds are required

If:

(a) the VET Student Loans Act 2016 as amended by this Schedule applies for the purposes of working out the following for a person:

(i) an accumulated VETSL debt;

(ii) a former accumulated VETSL debt; and

(b) because of the operation of item 68 of this Schedule, the amount previously paid by the person to the Commonwealth under Part 3A of the VET Student Loans Act 2016, 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 that the person owes to the Commonwealth under Part 3A of the VET Student Loans Act 2016,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.