Document ID: chunk:federal_register_of_legislation:C2025C00140:clause:1_4:p51
Version: federal_register_of_legislation:C2025C00140
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 51/67)
Character Range: 412740–415371

relation to one particular course of study.

                  Note: There will be more than one group of debts under paragraph (a) if the person incurred debts in relation to more than one course of study with a provider. Similarly, there could be more than one group of debts under paragraph (b), (c), (e), (ea), (eb), (f), (g) or (h).
           Step 2A. Work out the total for each group of debts. If the total for a particular group is an amount consisting of a number of whole dollars and a number of cents, the total for that group is taken to be the number of whole dollars. If the total for a group is an amount of less than one dollar, the total for the group is taken to be zero.
           Step 2B. If there is more than one group of debts for the person, add together the totals for all of the groups.
           Step 3. Subtract the sum of the amounts by which the person's debts referred to above are reduced because of any *voluntary repayments that have been made during the period:

                (a) starting on 1 June in the immediately preceding financial year; and
                (b) ending immediately before the next 1 June.

           Step 4. Subtract the sum of all of the person's *compulsory repayment amounts that:

                (a) were assessed during that period (excluding any assessed as a result of a *return given before that period); or
                (b) were assessed after the end of that period as a result of a return given before the end of that period.

           Step 5. Subtract the sum of the amounts by which any *compulsory repayment amount of the person is increased (whether as a result of an increase in the person's *taxable income of an *income year or otherwise) by an amendment of an assessment made during that period.
           Step 6. Add the sum of the amounts by which any *compulsory repayment amount of the person is reduced (whether as a result of a reduction in the person's *taxable income of an *income year or otherwise) by an amendment of an assessment made during that period.
Example: Lorraine is studying part‑time for a Degree of Bachelor of Communications. On 1 June 2013, Lorraine had an accumulated HELP debt of $15,000. She incurred a HELP debt of $1,500 on 31 March 2013. She made a voluntary repayment of $525 on 1 May 2014. Lorraine lodged her 2012‑13 income tax return and a compulsory repayment amount of $3,000 was assessed and notified on her income tax notice of assessment on 3 September 2013.
 To work out Lorraine's former accumulated HELP debt before indexation on 1 June 2014:
Step 1: Take the previous accumulated HELP debt of