Document ID: chunk:federal_register_of_legislation:C2006A00047:clause:1_1061zzfc
Version: federal_register_of_legislation:C2006A00047
Segment Type: clause
Provision Reference: sch 1 cl 1061ZZFC
Character Range: 9761–10500

1061ZZFC  Repayable debt for an income year

 (1) A person's repayable debt for an income year is:
 (a) the person's accumulated FS debt referred to in paragraph 1061ZZEZ(1)(b) in relation to that income year; or
 (b) if one or more amounts:
 (i) have been paid in reduction of that debt; or
 (ii) have been assessed under section 1061ZZFH to be payable in respect of that debt;
  the amount (if any) remaining after deducting from that debt the amount, or sum of the amounts, so paid or assessed to be payable.

 (2) A reference in paragraph (1)(b) to an amount assessed to be payable is, if the amount has been increased or reduced by an amendment of the relevant assessment, a reference to the increased amount or the reduced amount.