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

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

  (a)   changes in the Consumer Price Index; and

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

  (c)   voluntary repayments of the debt; and

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

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

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

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

  (c)   voluntary repayments of those debts.