Higher Education Support Act 2003
A person who owes a debt to the Commonwealth under this Chapter may make voluntary repayments.
The person is required to make repayments, of amounts based on his or her income, if that income is above a particular amount. The Commissioner of Taxation makes assessments of repayment amounts, which are collected in the same way as amounts of income tax.
S 148-1 amended by No 55 of 2016, s 3 and Sch 3 item 5, by omitting " Repayment amounts may be reduced by the HECS-HELP benefit. To receive the benefit, a person must satisfy eligibility requirements and apply for it. The Commissioner determines whether a person is eligible for the benefit, and if so, the amount of the benefit. " , effective 1 July 2017. For application and saving provision, see note under Div 157 heading.
S 148-1 amended by No 169 of 2015, s 3 and Sch 4 item 6, by omitting " In some cases these may attract a 5% repayment bonus. " after " make voluntary repayments. " , applicable in relation to a voluntary repayment made on or after 1 January 2017, regardless of when the debt to which the repayment relates was incurred.
S 148-1 amended by No 178 of 2011, s 3 and Sch 3 item 2, by substituting " 5% " for " 10% " in the first para, applicable in relation to payments made under Division 151 of the Higher Education Support Act 2003 on or after 1 January 2012 to meet a person ' s debts to the Commonwealth under Chapter 4 of that Act.
S 148-1 amended by No 43 of 2008, s 3 and Sch 1 item 5, by substituting the second and third paragraphs for the second paragraph, applicable in respect of the 2008-2009 and later income years. The second paragraph formerly read:
The person is required to make repayments, of amounts based on his or her income, if that income is above a particular amount. The Commissioner of Taxation makes assessments of what amounts are to be repaid, and the amounts are collected in the same way as amounts of income tax.
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