Higher Education Support Act 2003

Chapter 4 - Repayment of loans  

PART 4-2 - DISCHARGE OF INDEBTEDNESS  

Division 154 - How is indebtedness compulsorily discharged?  

Subdivision 154-B - Amounts payable to the Commonwealth  

SECTION 154-20   Amounts payable to the Commonwealth  

154-20(1)    
The amount that a person is liable to pay under section 154-1 , in respect of an * income year, is the amount that is the least of the following:

(a)    the amount worked out under subsection (2) ;

(b)    the amount equal to 10% of the person ' s * repayment income for the income year;

(c)    the amount of the person ' s * repayable debt for the income year.

154-20(2)    
For the purposes of paragraph (1)(a) , the amount is the sum of the following amounts:

(a)    15% of the part of the person ' s * repayment income that exceeds the * minimum repayment income but does not exceed $ 125,000;

(b)    17% of the part of the person ' s repayment income that exceeds $ 125,000.

Note:

The amount of $ 125,000 mentioned in paragraphs (a) and (b) is indexed under section 154-25 .





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