STUDENT ASSISTANCE ACT 1973

Part 4A - Financial Supplement for Tertiary Students  

Division 6 - Indebtedness existing after termination date  

Subdivision C - Requirement to discharge indebtedness  

SECTION 12ZK   COMPULSORY PAYMENTS IN RESPECT OF ACCUMULATED FS DEBT  

12ZK(1)  
If:


(a) a person's repayment income for the income year 2006-07 or a subsequent income year exceeds the minimum repayment income for that year; and


(b) on 1 June immediately preceding the making of an assessment in respect of the person's income for that income year, the person had an accumulated FS debt;

the person is liable to pay to the Commonwealth, in accordance with this Division, the amount worked out under section 12ZLC in reduction of the person's repayable debt.

12ZK(2)  
A person is not liable under this section to pay an amount for an income year if, under section 8 of the Medicare Levy Act 1986 :


(a) no Medicare levy is payable by the person on the person's taxable income for the income year; or


(b) the amount of the Medicare levy payable by the person on the person's taxable income for the income year is reduced.




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