VET Student Loans Act 2016

PART 3A - VETSL DEBTS  

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History

Pt 3A inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.

Division 3 - Accumulated VETSL debts  

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Div 3 inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.

SECTION 23CA  

23CA   SIMPLIFIED OUTLINE OF THIS DIVISION  

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

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

(a) changes in the Consumer Price Index; and

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

(c) voluntary repayments of the debt; and

(d) compulsory VETSL repayment amounts in respect of the debt.

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

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

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

(c) voluntary repayments of those debts.

Note:

Incurring that financial year ' s accumulated VETSL debt discharges the previous accumulated VETSL debt and VETSL debts: see section 23CE .

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S 23CA inserted by No 116 of 2018, s 3 and Sch 1 item 20, effective 1 July 2019.

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