VET Student Loans Act 2016
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Hide history noteIf:
(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.
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