Explanatory Memorandum
(Circulated by authority of the Minister for Education the Honourable Julia Gillard MP)Schedule 6-OS-HELP debts
Higher Education Support Act 2003
Item 1 - Subsection 137-15(2)
Repeals and substitutes new subsection 137-15(2). New subsection 137-15(2) provides that the amount of the OS-HELP debt is an amount equal to the amount of the loan. The effect of Item 1 is to remove the 20% loan fee for OS-HELP debts.
Item 2 - Application
Item 2 is an application provision which specifies that the amendment made by Schedule 6 applies in relation to OS-HELP debts incurred on or after 1 January 2010.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
