Commonwealth Consolidated Acts

AUSTRALIAN APPRENTICESHIP SUPPORT LOANS ACT 2014 - SECT 47A

  (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 AASL 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 .

  (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   46 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   46(3) did not apply to the person; and

  (b)   the amount (if any) the person is liable to pay under section   46, in respect of the income year.