Commonwealth Numbered Acts Commonwealth Numbered ActsHigher Education Support Act 2003
1 Paragraph 154-10(a)
Repeal the paragraph, substitute:
(a) for the 2019-20 income year--$45,880; or
2 Section 154-20 (table)
Repeal the table, substitute:
|
Applicable percentages | ||
| Item | If the person's repayment income is: |
The percentage applicable is: |
| 1 | More than the * minimum repayment income, but less than: (a) for the 2019-20 * income year--$ 52,974 ; or (b) for a later income year--that amount indexed under section 154-25. | 1% |
| 2 | More than or equal to the amount under item 1, but less than: (a) for the 2019-20 * income year--$56,152; or (b) for a later income year--that amount indexed under section 154-25. | 2% |
| 3 | More than or equal to the amount under item 2, but less than: (a) for the 2019-20 * income year--$59,522; or (b) for a later income year--that amount indexed under section 154-25. | 2.5% |
| 4 | More than or equal to the amount under item 3, but less than: (a) for the 2019-20 * income year--$63,093; or (b) for a later income year--that amount indexed under section 154-25. | 3% |
| 5 | More than or equal to the amount under item 4, but less than: (a) for the 2019-20 * income year--$66,878; or (b) for a later income year--that amount indexed under section 154-25. | 3.5% |
| 6 | More than or equal to the amount under item 5, but less than: (a) for the 2019-20 * income year--$70,891; or (b) for a later income year--that amount indexed under section 154-25. | 4% |
| 7 | More than or equal to the amount under item 6, but less than: (a) for the 2019-20 * income year--$75,145; or (b) for a later income year--that amount indexed under section 154-25. | 4.5% |
| 8 | More than or equal to the amount under item 7, but less than: (a) for the 2019-20 * income year--$79,653; or (b) for a later income year--that amount indexed under section 154-25. | 5% |
| 9 | More than or equal to the amount under item 8, but less than: (a) for the 2019-20 * income year--$84,433; or (b) for a later income year--that amount indexed under section 154-25. | 5.5% |
| 10 | More than or equal to the amount under item 9, but less than: (a) for the 2019-20 * income year--$89,499; or (b) for a later income year--that amount indexed under section 154-25. | 6% |
| 11 | More than or equal to the amount under item 10, but less than: (a) for the 2019-20 * income year--$94,869; or (b) for a later income year--that amount indexed under section 154-25. | 6.5% |
| 12 | More than or equal to the amount under item 11, but less than: (a) for the 2019-20 * income year--$100,561; or (b) for a later income year--that amount indexed under section 154-25. | 7% |
| 13 | More than or equal to the amount under item 12, but less than: (a) for the 2019-20 * income year--$106,594; or (b) for a later income year--that amount indexed under section 154-25. | 7.5% |
| 14 | More than or equal to the amount under item 13, but less than: (a) for the 2019-20 * income year--$112,990; or (b) for a later income year--that amount indexed under section 154-25. | 8% |
| 15 | More than or equal to the amount under item 14, but less than: (a) for the 2019-20 * income year--$119,770; or (b) for a later income year--that amount indexed under section 154-25. | 8.5% |
| 16 | More than or equal to the amount under item 15, but less than: (a) for the 2019-20 * income year--$126,956; or (b) for a later income year--that amount indexed under section 154-25. | 9% |
| 17 | More than or equal to the amount under item 16, but less than: (a) for the 2019-20 * income year--$134,573; or (b) for a later income year--that amount indexed under section 154-25. | 9.5% |
| 18 | More than or equal to the amount under item 17. | 10% |
3 Section 1061ZZFD
Repeal the section, substitute:
1061ZZFD Amounts payable to the Commonwealth
(1) The amount that a person is liable to pay under section 1061ZZEZ, in respect of:
(a) the 2019-20 income year; or
(b) a later income year;
is the amount worked out using the formula:
where:
"applicable percentage of repayment income " means an amount equal to so much of the person's repayable debt for the income year as does not exceed the percentage of the person's repayment income worked out in respect of the income year using 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 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.
(2) For the purposes of subsection (1), assume that the reference in the table in section 154-20 of the Higher Education Support Act 2003 to the person's repayment income is a reference to the person's repayment income within the meaning of section 1061ZZFA of this Act.
(3) 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.
4 Paragraph 1061ZZENA(b)
Omit ", except section 1061ZZFE".
5 Section 1061ZZFE
Repeal the section.
6 Section 12ZLC
Repeal the section, substitute:
12ZLC Amounts payable to the Commonwealth
(1) The amount that a person is liable to pay under section 12ZK, in respect of:
(a) the 2019-20 income year; or
(b) a later income year;
is the amount worked out using the formula:
where:
"applicable percentage of repayment income " means an amount equal to so much of the person's repayable debt for the income year as does not exceed the percentage of the person's repayment income worked out in respect of the income year using 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 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.
(2) For the purposes of subsection (1), assume that the reference in the table in section 154-20 of the Higher Education Support Act 2003 to the person's repayment income is a reference to the person's repayment income within the meaning of section 12ZL of this Act.
(3) 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.
7 Section 12ZLD
Repeal the section.
Part 2 -- Amendments relating to indexation
Higher Education Support Act 2003
8 Section 140-15
Repeal the section.
9 Subsection 154-25(1)
Repeal the subsection, substitute:
(1) The following amounts for the 2020-21 * income year, or a later income year:
(a) the * minimum repayment income;
(b) the amounts referred to in paragraph (a) of the second column of items 1 to 17 of the table in section 154-20;
are indexed by multiplying the corresponding amounts for the 2019-20 income year by the amount worked out using the formula:
10 Subsections 154-25(2) and (3)
Repeal the subsections.
11 Paragraph 154-30(b)
Omit "to 9", substitute "to 17".
12 Section 198-1 (note 1)
Omit "sections 140-10 and 140-15", substitute "section 140-10".
13 Subclause 1(1) of Schedule 1 (definition of AWE )
Repeal the definition.
14 Subclause 1(1) of Schedule 1 (paragraph (a) of the definition of index number )
Repeal the paragraph, substitute:
(a) for the purposes of Parts 4-1 and 4-2, has the meaning given by clause 2 of this Schedule; and
15 Subclause 1(1) of Schedule 1 (definition of reference period )
Repeal the definition.
16 At the end of Schedule 1
Add:
(1) For the purposes of Parts 4-1 and 4-2, the index number for a * quarter is the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the * Australian Statistician in respect of that quarter.
(2) Subject to subclause (3), if, at any time before or after the commencement of this clause:
(a) the * Australian Statistician has published or publishes an * index number in respect of a * quarter; and
(b) that index number is in substitution for an index number previously published by the Australian Statistician in respect of that quarter;
disregard the publication of the later index number for the purposes of this clause.
(3) If, at any time before or after the commencement of this clause , the * Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, in applying this clause after the change took place or takes place, have regard only to * index numbers published in terms of the new index reference period .
Part 3 -- Application and transitional provisions
17 Application of amendments
(1) The amendments made by Part 1 of this Schedule apply in relation to the 2019-20 income year and later income years.
(2) The amendments made by Part 2 of this Schedule apply in relation to the 2020-21 income year and later income years.
18 Transitional--indexation
Despite anything in repealed subsection 154-25(1) of the Higher Education Support Act 2003 (as that subsection applies to the 2019-20 income year), an amount referred to in paragraph (a) or (b) of that subsection is not to be indexed for the 2019-20 income year.