VET Student Loans Act 2016

PART 3A - VETSL DEBTS  

Division 5 - Compulsory discharge of debt  

Subdivision B - Levy for overseas debtors  

SECTION 23EC   LIABILITY OF OVERSEAS DEBTORS TO REPAY AMOUNTS  

23EC(1)    
If:

(a) a person is a foreign resident during an income year; and

(b) the person ' s assessed worldwide income for the income year exceeds the minimum repayment income for the income year; and

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

the person is liable to pay to the Commonwealth, in accordance with this Division, a levy of the amount worked out under subsection (2).

Note:

An amount a person is liable to pay under this section is imposed as a levy under the Student Loans (Overseas Debtors Repayment Levy) Act 2015 .

23EC(2)    
The amount of levy that a person is liable to pay under this section, in respect of an income year, is an amount equal to the difference between:

(a) the amount that the person would have been liable to pay under section 23EA if:

(i) the person had a repayment income for the income year of an amount equal to the person ' s assessed worldwide income for the income year; and

(ii) subsection 23EA(3) did not apply to the person; and

(b) the amount (if any) the person is liable to pay under section 23EA , in respect of the income year.