Maximum amounts on which subsidy is payable

Current

(1)

Subject to this Part, the amount on which subsidy is payable is:

(a)

the advanced amount; or

(b)

$80,000;

whichever is less.

(2)

If:

(a)

a person obtains an advanced amount of less than $80,000; and

(b)

the person later borrows a further amount by increasing that amount; and

(c)

the payment of subsidy in respect of the increase is approved under section 15;

then, subject to this Part, the amount on which subsidy is payable is:

(d)

the total of the borrowed amounts; or

(e)

$80,000;

whichever is less.

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