Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe provisions of this Part that relate to the disclosure of information do not affect the operation of the Freedom of Information Act 1982.
ABSTUDY student start - up loans are income - contingent loans made under the ABSTUDY Scheme.
Broadly, full - time students who are receiving Living Allowance might be qualified for an ABSTUDY student start - up loan. A person can qualify for up to 2 loans each calendar year. To receive a loan, a person must make a claim before the end of the relevant period for each loan.
Once the person's income exceeds 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 debt in relation to ABSTUDY student start - up loans.
Each ABSTUDY SSL debt a person incurs is incorporated into the person's accumulated ABSTUDY SSL debt. This accumulated ABSTUDY SSL debt forms the basis for working out the amounts the person is obliged to repay.
There are 2 stages to working out a person's accumulated ABSTUDY SSL debt for a financial year.
In stage 1, the person's former accumulated ABSTUDY SSL debt is worked out by adjusting the preceding financial year's accumulated ABSTUDY SSL debt to take account of:
(a) the HELP debt indexation factor for 1 June in that financial year; and
(b) the debts that the person incurs during the last 6 months of the preceding financial year; and
(c) voluntary ABSTUDY SSL repayments of the debt; and
(d) compulsory ABSTUDY SSL repayment amounts in respect of the debt.
In stage 2, the person's accumulated ABSTUDY SSL debt is worked out from:
(a) the person's former accumulated ABSTUDY SSL debt; and
(b) the ABSTUDY SSL debts that the person incurs during the first 6 months of the financial year; and
(c) voluntary ABSTUDY SSL repayments of those debts.
Method statement
Step 1. Take the person's accumulated ABSTUDY SSL debt for the immediately preceding financial year. (This amount is taken to be zero if the person has no accumulated ABSTUDY SSL debt for that financial year.)
Step 2. Add the sum of all of the ABSTUDY SSL debts (if any) that the person incurred during the last 6 months of the immediately preceding financial year.
Step 3. Subtract the sum of the amounts by which the person's debts referred to in steps 1 and 2 are reduced because of any voluntary ABSTUDY SSL repayments that have been made during the period:
(a) starting on 1 June in the immediately preceding financial year; and
(b) ending immediately before the next 1 June.
Step 4. Subtract the sum of all of the person's compulsory ABSTUDY SSL repayment amounts that:
(a) were assessed during that period (excluding any assessed as a result of a return given before that period); or
(b) were assessed after the end of that period as a result of a return given before the end of that period.
Step 5. Subtract the sum of the amounts by which any compulsory ABSTUDY SSL repayment amount of the person is increased (whether as a result of an increase in the person's taxable income of an income year or otherwise) by an amendment of an assessment made during that period.
Step 6. Add the sum of the amounts by which any compulsory ABSTUDY SSL repayment amount of the person is reduced (whether as a result of a reduction in the person's taxable income of an income year or otherwise) by an amendment of an assessment made during that period.
A person who owes a debt to the Commonwealth under this Part may make voluntary ABSTUDY SSL repayments.
The person is required to make repayments once the person's income exceeds 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 amount of the repayments is based on the person's income.
The Commissioner makes assessments of repayment amounts, which are collected in the same way as amounts of income tax.
If a person is dissatisfied with a decision made on internal review under Division 1, the person may apply to the AAT for review of the decision (an "AAT first review") (certain decisions are excepted).
If a person is dissatisfied with a decision of the AAT on AAT first review, the person may apply to the AAT for further review (an "AAT second review").
The rules relating to reviews by the AAT are mainly in the AAT Act, but the operation of that Act is modified in some ways by this Division.
The AAT Act allows a person to appeal to a court on a question of law from a decision of the AAT on AAT second review.