Commonwealth Consolidated Acts

HIGHER EDUCATION SUPPORT LEGISLATION AMENDMENT (STUDENT LOAN SUSTAINABILITY) ACT 2018 - SCHEDULE 2

Part   1 -- Amendments

Social Security Act 1991

1   Subsection   1061ZVHA(1)

Repeal the subsection, substitute:

  (1)   If:

  (a)   a person's HELP repayment income for an income year exceeds the minimum HELP repayment income for the income year; and

  (b)   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 SSL debt;

the person is liable to pay to the Commonwealth, in accordance with this Division, so much of the person's repayable SSL debt for the income year as does not exceed the amount worked out using the formula:

where:

"applicable percentage of repayment income" means the amount that is the percentage of the person's HELP repayment income applicable under the table in section   154 - 20 of the Higher Education Support Act 2003 .

"relevant income-contingent loans liability" means the amount that is the sum of the following:

  (a)   the sum of any amounts the person is liable to pay under section   154 - 1 or 154 - 16 of the Higher Education Support Act 2003 in respect of the income year ;

  (b)   the sum of any amounts the person is liable to pay under section   1061ZZEZ of this Act, or section   12ZK of the Student Assistance Act 1973 , in respect of the inc ome year.

Student Assistance Act 1973

2   Subsection   10F(1) (definition of relevant income - contingent loans liability )

Repeal the definition, substitute:

"relevant income-contingent loans liability" means the amount that is the sum of the following:

  (a)   the sum of any amounts the person is liable to pay under section   154 - 1 or 154 - 16 of the Higher Education Support Act 2003 in respect of the income year ;

  (b)   the sum of any amounts the person is liable to pay under section   1061ZZEZ of the Social Security Act 1991 , or section   12ZK of this Act, in respect of the income year;

  (c )   any amount the person is liable to pay under section   1061ZVHA of the Social Security Act 1991 in respect of the income year .

Trade Support Loans Act 2014

3   Subsection   46(1) (definition of relevant income - contingent loans liability )

Repeal the definition, substitute:

"relevant income-contingent loans liability" means the amount that is the sum of the following:

  (a)   the sum of any amounts the person is liable to pay under section   154 - 1 or 154 - 16 of the Higher Education Support Act 2003 in respect of the income year ;

  (b)   the sum of any amounts the person is liable to pay under section   1061ZZEZ of the Social Security Act 1991 , or section   12ZK of the Student Assistance Act 1973 , in respect of the income year;

  (c)   any amount the person is liable to pay under section   1061ZVHA of the Social Security Act 1991 in respect of the income year;

  ( d )   any amount the person is liable to pay under section   10F of the Student Assistance Act 1973 in respect of the income year .

Part   2 -- Application provisions

4   Application of amendments

The amendments made by this Schedule apply in relation to the 2019 - 20 income year and later income years.