Explanatory Memorandum
(Circulated by the authority of the Minister for Tertiary Education, Skills, Science and Research)Outline
The purpose of this Bill is to clarify the application of the indexation arrangements to amounts in the Act. The Bill updates the definitions for 'course of study in dentistry' and 'course of study in veterinary science' and updates Melbourne College of Divinity's name in light of its approval to operate under the title MCD University of Divinity. It also allows for technical amendments to the calculation of the voluntary repayment bonus to resolve rounding issues.
Items 1 - 9 amend HESA to clarify the application and operation of the indexation provisions in the Act. The Bill makes it clear that indexation applied to all amounts in the Act on 1 January 2011. It also makes it clear that the amounts that are indexed on 1 January 2012 are the 2011 indexed amounts.
Item 10 amends HESA to update the Melbourne College of Divinity's name in light of its approval to operate under the name MCD University of Divinity.
Item 11 provides that when calculating the effect of a person making a partial repayment towards his or her HELP debt, the amount would be rounded up to nearest dollar if the calculated amount is made up of dollars and cents.
Items 12 - 15 amend the definitions for 'Course of Study in Dentistry' and 'Course of study in Veterinary Science' to clarify that only students undertaking courses of study in dentistry or veterinary science that satisfy the minimum academic requirements for registration as a dentist, veterinary surgeon or veterinary practitioner are eligible for the higher FEE-HELP limit.
Application provisions provide that:
- •
- the amendments made by item 11 apply in relation to payments made on or after commencement on 1 January 2013.
- •
- the amendments made by items 12 to 15 apply from the day after Royal Assent to students who are currently enrolled in a course of study in dentistry or veterinary science and students who enrol in these courses in the future.
Financial impact
There is no financial impact associated with this bill.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
