{"id":"F2005B01565","name":"Factor to Index an Accumulated HEC Debt (April 2004)","slug":"factor-to-index-an-accumulated-hec-debt-april-2004","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":112008,"registerId":"commonwealth-F2005B01565-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Factor to Index an Accumulated HEC Debt (April 2004)","content":"AUSTRALIAN TAXATION OFFICE  \n\nHIGHER EDUCATION FUNDING ACT 1988  \n\nFactor to Index an Accumulated HEC Debt  \n\nI, ERIN KATHLEEN HOLLAND, as delegate of the Commissioner of Taxation, HEREBY NOTIFY, pursuant to subsection 106N(9) of the Higher Education Funding Act 1988, that 1.024 is the factor to be used for the indexing of accumulated HEC debts on 1 June 2004.\n\nIn accordance with subsection 106N(5) of the Higher Education Funding Act 1988, the indexation factor is the number worked out to three decimal places using the formula:\n\nthe sum of the index number for the March 2004 quarter and the index numbers for the 3 immediately preceding quarters\n\ndivided by\n\nthe sum of the index number for the March 2003 quarter and the index numbers for the 3 immediately preceding quarters,\n\nwhere index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.\n\nIndexation factor for 1 June 2004 \\= Mar04+Dec03+Sep03+Jun03.\n\nMar03+Dec02+Sep02+Jun02\n\n\\= 144.1 + 142.8 + 142.1 + 141.3\n\n141.3 + 139.5 + 138.5 + 137.6\n\n\\= 570.3\n\n556.9\n\n\\= 1.024 (rounded to 3 decimal places)\n\nThe indexation factor is 1.024 and the effective percentage increase is 2.4%.\n\nDated this \\_\\_\\_\\_\\_\\_\\_\\_30th\\_\\_\\_\\_\\_ day of \\_\\_April\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_ 2004\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_signed Erin Holland\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1336},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is a routine annual administrative determination that performs the specific statutory function required by section 106N of the Higher Education Funding Act 1988. It does not expand beyond the original legislative intent of annually adjusting HEC debts for inflation using the prescribed CPI formula."},"complexity_factors":["Single mathematical formula with no conditional branches","Only one defined term ('index number')","No cross-references to other legislative provisions beyond the empowering section","Straightforward arithmetic calculation with no exceptions or thresholds"],"plain_english_summary":"This notice sets the 1 June 2004 inflation indexation for HEC student debts, increasing outstanding balances by a factor of 1.024 (2.4%). It applies to Australians with accumulated HEC obligations.\n\nThe indexation is calculated from the Consumer Price Index to preserve the real value of government-held student loans."}},"importantCases":[],"_links":{"self":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004","history":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004/history","analysis":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004/analysis","conflicts":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004/conflicts","importantCases":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004/important-cases","documents":"/api/acts/factor-to-index-an-accumulated-hec-debt-april-2004/documents"}}