Education Legislation Amendment (Overseas Debt Recovery) Act 2015 (154 of 2015)

Schedule 1   Repayment of accumulated HELP debts by overseas debtors

Part 1   Amendments

Higher Education Support Act 2003

3   At the end of Subdivision 154-B

Add:

154-32 Amounts payable to the Commonwealth by overseas debtors

The amount of levy that a person is liable to pay under section 154-16, in respect of an *income year, is an amount equal to the difference between:

(a) the amount that the person would have been liable to pay under section 154-1 if:

(i) the person had a *repayment income for the income year of an amount equal to the person's *assessed worldwide income for the income year; and

(ii) subsection 154-1(2) did not apply to the person; and

(b) the amount (if any) the person is liable to pay under section 154-1, in respect of the income year.