Australian Apprenticeship Support Loans Act 2014

CHAPTER 1 - INTRODUCTION  

PART 1.1 - PRELIMINARY  

SECTION 3  

3   SIMPLIFIED OUTLINE OF THIS ACT  

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Australian apprenticeship support loan is an income-contingent loan. A person who receives Australian apprenticeship support loan must repay it, through the tax system, after the person ' s income reaches a certain threshold.

Broadly, Australian apprenticeship support loan is available to apprentices undertaking certain kinds of apprenticeships. If a person makes an application and meets all the requirements, payments will be made regularly to the person.

When the person ' s income reaches the minimum repayment income under the Higher Education Support Act 2003 , and the person has finished repaying any debt under that Act and certain other income-contingent loan schemes, the person must start repaying Australian apprenticeship support loan debt.

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History

S 3 amended by No 61 of 2023, s 3 and Sch 1 items 3 - 6, by substituting " Australian apprenticeship support loan is an " for " Trade support loan is an " , " Australian apprenticeship support loan must " for " trade support loan must " , " Australian apprenticeship support loan is available " for " trade support loan is available " and " Australian apprenticeship support loan debt " for " trade support loan debt " , effective 1 January 2024. For transitional provisions, see note under s 105(1) .

S 3 amended by No 169 of 2015, s 3 and Sch 1 item 108, by inserting " and certain other income-contingent loan schemes " , effective 1 January 2016.

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