Amounts payable to the Commonwealth
12ZLC Amounts payable to the Commonwealth
The amount that a person is liable to pay under section 12ZK, in respect of:
the 2019‑20 income year; or
a later income year;
is the amount worked out using the formula:
where:
applicable repayable amount means the amount that is the least of the following:
the amount worked out under subsection 154‑20(2) of the Higher Education Support Act 2003 for the income year, as if:
references in that subsection to the person’s repayment income were references to the person’s repayment income within the meaning of this Act; and
references in that subsection to the person’s minimum repayment income were references to the person’s minimum repayment income within the meaning of this Act;
the amount equal to 10% of the person’s repayment income for the income year;
the amount of the person’s repayable debt for the income year.
relevant income‑contingent loans liability means the amount that is the sum of the following:
the sum of any amounts the person is liable to pay under section 154‑1 or 154‑16 of the Higher Education Support Act 2003 in respect of the income year;
the sum of any amounts the person is liable to pay under section 23EA or 23EC of the VET Student Loans Act 2016 in respect of the income year.
A person is not liable under this section to pay an amount for an income year if the amount worked out under subsection (1) is zero or less.
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