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Australian Apprenticeship Support Loans Act 2014

CHAPTER 3 - Loan repayments  

PART 3.2 - DISCHARGING DEBTS  

Division 1 - Simplified outline of this Part  

SECTION 39  

39   SIMPLIFIED OUTLINE OF THIS PART  


Australian apprenticeship support loan that is paid to a person must be repaid. 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 Australian apprenticeship support loan.

If the person successfully completes a qualifying apprenticeship, the person ' s debts will be partially discharged by an amount called the completion discount. The completion discount is 20 % of the total amount of instalments of Australian apprenticeship support loan that were paid to the person.

As well as the completion discount, the person ' s debt is discharged by:

  • (a) any repayments the person chooses to make at any time (voluntary repayments); and
  • (b) repayments the person must make after the person ' s income reaches the minimum repayment income (compulsory repayments).
  • The Commissioner makes assessments of compulsory repayments, which are collected in the same way as amounts of income tax.