Australian Apprenticeship Support Loans Act 2014

CHAPTER 3 - Loan repayments  

PART 3.1 - INCURRING DEBTS  

Division 3 - Accumulated AASL debts  

View history reference

 View history note

 Hide history note

History

Div 3 heading amended by No 61 of 2023, s 3 and Sch 1 item 66, by substituting " AASL " for " TSL " , effective 1 January 2024. For transitional provisions, see note under s 105(1) .

SECTION 30  

30   SIMPLIFIED OUTLINE OF THIS DIVISION  

View history reference

There are 2 stages to working out a person ' s accumulated AASL debt for a financial year.

In stage 1, the person ' s former accumulated AASL debt is worked out by adjusting the preceding financial year ' s accumulated AASL debt to take account of:

(a) indexation using the AASL debt indexation factor; and

(b) the debts that the person incurs during the last 6 months of the preceding financial year; and

(c) any completion discount for the person; and

(d) voluntary AASL repayments of the debt; and

(e) compulsory AASL repayment amounts in respect of the debt.

In stage 2, the person ' s accumulated AASL debt is worked out from:

(a) the person ' s former accumulated AASL debt; and

(b) the AASL debts that the person incurs during the first 6 months of the financial year; and

(c) any completion discount for the person; and

(d) voluntary AASL repayments of the debt.

 View history note

 Hide history note

History

S 30 amended by No 61 of 2023, s 3 and Sch 1 item 67, by substituting " AASL " for " TSL " (wherever occurring), effective 1 January 2024. For transitional provisions, see note under s 105(1) .

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.