Commonwealth Consolidated Acts

AUSTRALIAN APPRENTICESHIP SUPPORT LOANS ACT 2014 - SECT 47

  (1)   A person's repayable AASL debt for an income year is:

  (a)   the person's accumulated AASL debt referred to in paragraph   46(1)(b) in relation to that income year; or

  (b)   if any or all of the following apply:

  (i)   that debt has been reduced by the amount of a completion discount for the person;

  (ii)   one or more amounts have been paid in reduction of that debt;

  (iii)   one or more amounts have been assessed under section   48 to be payable in respect of that debt;

    the amount (if any) remaining after deducting from that debt any amounts referred to in subparagraphs   (i), (ii) and (iii).

  (2)   A reference in paragraph   (1)(b) of this section to an amount assessed to be payable is, if the amount has been increased or reduced by an amendment of the relevant assessment, a reference to the increased amount or the reduced amount.