9CA
In forceReduction in ABSTUDY SSL debts incurred before 1 January 2025
Part 2ABSTUDY student start‑up loans
Division 4Indebtedness: working out accumulated ABSTUDY SSL debts
9CA Reduction in ABSTUDY SSL debts incurred before 1 January 2025
(1)
For the purposes of working out a person’s former accumulated ABSTUDY SSL debt in relation to the person’s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9B has effect as if the method statement in subsection (1) of that section included the following step after step 6:
Step 7. Reduce the amount worked out under step 6 by 20%.
(2)
For the purposes of working out a person’s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9C has effect as if the formula in subsection (1) of that section were omitted and substituted with the following:
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