Higher Education Support Act 2003

S 154-25(1) substituted by No 76 of 2018, s 3 and Sch 1 item 9, effective 1 July 2019 and applicable in relation to the 2020-21 income year and later income years. No 76 of 2018, s 3 and Sch 1 item 18 contains the following transitional provision:

18 Transitional - indexation  
18
Despite anything in repealed subsection 154-25(1) of the Higher Education Support Act 2003 (as that subsection applies to the 2019-20 income year), an amount referred to in paragraph (a)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.

S 154-25(1) formerly read:

154-25(1)
The following amounts for the 2019-20 *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 9 of the table in section 154-20;

are indexed by multiplying the corresponding amounts for the 2018-19 income year by the amount worked out using the formula:

AWE for that income year     AWE for the 2018-19 income year

S 154-25(1) substituted by No 55 of 2016, s 3 and Sch 1 item 3, applicable in relation to income years commencing on and after 1 July 2018. S 154-25(1) formerly read:

154-25(1)
The following amounts for the 2006-07 *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 8 of the table in section 154-20;

are indexed by multiplying the corresponding amounts for the 2005-06 income year by the amount worked out using the formula:

*AWE for that income year     AWE for the 2005-06 income year

S 154-25(2) repealed by No 76 of 2018, s 3 and Sch 1 item 10, effective 1 July 2019 and applicable in relation to the 2020-21 income year and later income years. S 154-25(2) formerly read:

154-25(2)
AWE , for an *income year, is the number of dollars in the sum of:

(a) the average weekly earnings for all employees (total earnings, seasonally adjusted) for the *reference period in the *quarter ending on 31 December immediately before the income year, as published by the *Australian Statistician; and

(b) the average weekly earnings for all employees for the reference period in the quarter ending on 30 June that is immediately before the quarter referred to in paragraph (a), as published by the Australian Statistician.

S 154-25(2) amended by No 23 of 2013, s 3 and Sch 4 item 1, by subtituting " the quarter ending on 30 June that is immediately before the quarter referred to in paragraph (a) " for " each of the 3 quarters immediately before that quarter " , applicable in relation to the indexation of the amounts referred to in subsection 154-25(1) of the Higher Education Support Act 2003 for the 2013-14 income year, or a later income year.

S 154-25(3) repealed by No 76 of 2018, s 3 and Sch 1 item 10, effective 1 July 2019 and applicable in relation to the 2020-21 income year and later income years. S 154-25(3) formerly read:

154-25(3)
The reference period in a particular *quarter in a year is the period described by the *Australian Statistician as the pay period ending on or before a specified day that is the third Friday of the middle month of that quarter.