Australian Apprenticeship Support Loans Act 2014
If: (a) a person ' s repayment income for an income year exceeds the minimum repayment income for the income year; and (b) on 1 June immediately preceding the making of an assessment in respect of the person ' s income of that income year, the person had an accumulated AASL debt;
the person is liable to pay to the Commonwealth, in accordance with this Division, so much of the person ' s repayable AASL debt for the income year as does not exceed the amount worked out by the formula:
| Applicable percentage of repayment income | − | Relevant income-contingent loans liability |
where:
applicable percentage of repayment income
means the amount that is the percentage of the person
'
s repayment income applicable under the table in section
154-20
of the
Higher Education Support Act 2003
.
relevant income-contingent loans liability
means the amount that is the sum of the following:
(a) the sum of any amounts the person is liable to pay under section 154-1 or 154-16 of the Higher Education Support Act 2003 in respect of the income year;
(aa) the sum of any amounts the person is liable to pay under section 23EA or 23EC of the VET Student Loans Act 2016 in respect of the income year;
(b) the sum of any amounts the person is liable to pay under section 1061ZZEZ of the Social Security Act 1991 , or section 12ZK of the Student Assistance Act 1973 , in respect of the income year;
(c) any amount the person is liable to pay under section 1061ZVHA of the Social Security Act 1991 in respect of the income year;
(d) any amount the person is liable to pay under section 10F of the Student Assistance Act 1973 in respect of the income year.
View history note
Hide history note46(2)
A person is not liable under this section to pay an amount for an income year if the amount worked out under subsection (1) is zero or less.
46(3)
A person is not liable under this section to pay an amount for an income year if, under section 8 of the Medicare Levy Act 1986 : (a) no Medicare levy is payable by the person on the person ' s taxable income for the income year; or (b) the amount of the Medicare levy payable by the person on the person ' s taxable income for the income year is reduced.
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