Trade Support Loans Act 2014

CHAPTER 3 - Loan repayments  

PART 3.1 - INCURRING DEBTS  

Division 3 - Accumulated TSL debts  

SECTION 35   STAGE 2 - WORKING OUT AN ACCUMULATED TSL DEBT  

35(1)  
A person ' s accumulated TSL debt , for a financial year, is worked out as follows:


Former accumulated TSL debt + TSL debts incurred - Completion discount - TSL debt repayments

where:

completion discount
means any completion discount for the person notified by the Secretary to the Commissioner under section 40 on or after 1 July in the financial year and before 1 June in that year.

former accumulated TSL debt
is the person ' s former accumulated TSL debt in relation to that accumulated TSL debt.

TSL debt repayments
is the sum of all of the voluntary TSL repayments (if any) paid, on or after 1 July in the financial year and before 1 June in that year, in reduction of the TSL debts incurred in that year.

TSL debts incurred
is the sum of the amounts of all of the TSL debts (if any) that the person incurred during the first 6 months of the financial year.

35(2)  
The person incurs the accumulated TSL debt on 1 June in the financial year.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.