23CASimplified outline of this Division

#### 23CA Simplified outline of this Division There are 2 stages to working out a person’s accumulated VETSL debt for a financial year. In stage 1, the person’s former accumulated VETSL debt is worked out. This is done by adjusting the preceding financial year’s accumulated VETSL debt to take account of: (a) changes in the Consumer Price Index and the Wage Price Index; and (b) the VETSL debts the person incurs during the last 6 months of the preceding financial year; and (c) voluntary repayments of the debt; and (d) compulsory VETSL repayment amounts in respect of the debt. In stage 2, the person’s accumulated VETSL debt is worked out from: (a) the person’s former accumulated VETSL debt; and (b) the VETSL debts the person incurs during the first 6 months of the financial year; and (c) voluntary repayments of those debts. > Note: Incurring that financial year’s accumulated VETSL debt discharges the previous accumulated VETSL debt and VETSL debts: see section 23CE.