1061ZZFO
In forceApplication of payments
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12 (sections 1061ZVAA to 1157)
Chapter 2BStudent Financial Supplement Scheme
Part 2B.3Repayment of financial supplement through taxation system after termination date
Division 10Treatment of payments under financial supplement scheme
1061ZZFO Application of payments
An amount paid by a person to reduce the person’s debt to the Commonwealth under this Part must be applied in accordance with the person’s direction or, if there is no direction or the direction does not adequately deal with the matter:
(a)
first, to discharge or reduce the person’s FS assessment debts; and
(b)
then, to discharge or reduce the person’s accumulated FS debt.
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