Document ID: chunk:federal_register_of_legislation:C2015A00154:clause:1_2:p1
Version: federal_register_of_legislation:C2015A00154
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 1/2)
Character Range: 9566–12317

2  After Subdivision 154‑A
Insert:

Subdivision 154‑AA—Liability of overseas debtors to repay amounts

154‑16  Liability of overseas debtors to repay amounts
  If:
 (a) a person is a *foreign resident during an *income year; and
 (b) the person's *assessed worldwide income for the income year exceeds the *minimum repayment income for the income year; and
 (c) on 1 June immediately preceding the making of an assessment in respect of the person's income of that income year, the person had an *accumulated HELP debt;
the person is liable to pay to the Commonwealth, in accordance with this Division, a levy of the amount worked out under section 154‑32.
Note: An amount a person is liable to pay under this section is imposed as a levy under the Student Loans (Overseas Debtors Repayment Levy) Act 2015.

154‑17  Assessed worldwide income
 (1) A person's assessed worldwide income for an *income year is an amount equal to the sum of:
 (a) the person's *repayment income for the income year; and
 (b) the person's foreign‑sourced income for the income year, converted into Australian currency.
 (2) The Overseas Debtors Repayment Guidelines may provide for how to work out a person's foreign‑sourced income for an *income year, including how to convert it into Australian currency.
 (3) Without limiting subsection (2), the Overseas Debtors Repayment Guidelines may provide for a person's foreign‑sourced income for an income year to be worked out in relation to a period that does not correspond to that *income year.

154‑18  Notices to be given to the Commissioner

Notice relating to leaving Australia
 (1) A person who:
 (a) has an *accumulated HELP debt or otherwise has a *HELP debt that has not yet been discharged; and
 (b) leaves Australia (other than in circumstances specified in the Overseas Debtors Repayment Guidelines) with the intention of remaining outside Australia for at least 183 days;
must, no later than 7 days after leaving Australia, give a notice to the *Commissioner in the *approved form.

Notice relating to absence from Australia
 (2) A person who:
 (a) has an *accumulated HELP debt or otherwise has a *HELP debt that has not yet been discharged; and
 (b) has been outside Australia for at least 183 days (other than in circumstances specified in the Overseas Debtors Repayment Guidelines) in any 12 month period; and
 (c) was not required under subsection (1) to give a notice to the *Commissioner in connection with that absence from Australia;
must, no later than 7 days after the end of those 183 days, give a notice to the Commissioner in the *approved form.

Notice relating to income (including foreign‑sourced income)
 (3) A person who:
 (a) is a *foreign resident; and
 (b) on 1 June immediately preceding an