Australian Apprenticeship Support Loans Act 2014
30Simplified outline of this Division
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30 Simplified outline of this Division
There are 2 stages to working out a person’s accumulated AASL debt for a financial year.
In stage 1, the person’s former accumulated AASL debt is worked out by adjusting the preceding financial year’s accumulated AASL debt to take account of:
(a) indexation using the AASL debt indexation factor; and
(b) the debts that the person incurs during the last 6 months of the preceding financial year; and
(c) any completion discount for the person; and
(d) voluntary AASL repayments of the debt; and
(e) compulsory AASL repayment amounts in respect of the debt.
In stage 2, the person’s accumulated AASL debt is worked out from:
(a) the person’s former accumulated AASL debt; and
(b) the AASL debts that the person incurs during the first 6 months of the financial year; and
(c) any completion discount for the person; and
(d) voluntary AASL repayments of the debt.