There are 2 stages to working out a person's accumulated SSL debt for a financial year.

In stage 1, the person's former accumulated SSL debt is worked out by adjusting the preceding financial year's accumulated SSL debt to take account of:

  (a)   the HELP debt indexation factor for 1   June in that financial year; and

  (b)   the debts that the person incurs during the last 6 months of the preceding financial year; and

  (c)   voluntary SSL repayments of the debt; and

  (d)   compulsory SSL repayment amounts in respect of the debt.

In stage 2, the person's accumulated SSL debt is worked out from:

  (a)   the person's former accumulated SSL debt; and

  (b)   the SSL debts that the person incurs during the first 6 months of the financial year; and

  (c)   voluntary SSL repayments of those debts.