Document ID: chunk:federal_register_of_legislation:C2008C00021:clause:1_13
Version: federal_register_of_legislation:C2008C00021
Segment Type: clause
Provision Reference: sch 1 cl 13
Character Range: 24071–25706

13  Taking account of amendments of assessments of HEC assessment debts on or after 1 June 2005

(1) If:
 (a) on or after 1 June 2005, the Commissioner amends an assessment made under section 106T of the Higher Education Funding Act 1988 of the amount of a person's HEC assessment debt; and
 (b) the HEC assessment debt is increased by the amendment (whether as a result of an increase in the person's taxable income of an income year or otherwise);
in working out, under section 140‑25 of the Higher Education Support Act 2003, a person's accumulated HELP debt for the appropriate financial year, add the amount of the increase to the amount of the sum referred to in step 5 of the method statement in section 140‑5 of that Act.

(2) If:
 (a) on or after 1 June 2005, the Commissioner amends an assessment made under section 106T of the Higher Education Funding Act 1988 of the amount of a person's HEC assessment debt; and
 (b) the HEC assessment debt is reduced by the amendment (whether as a result of a reduction in the person's taxable income of an income year or otherwise);
in working out, under section 140‑25 of the Higher Education Support Act 2003, a person's accumulated HELP debt for the appropriate financial year, add the amount of the reduction to the amount of the sum referred to in step 6 of the method statement in section 140‑5 of that Act.

(3) For the purposes of this item, the appropriate financial year is:
 (a) if the amendment is made before 1 June in a financial year—that financial year; or
 (b) if the amendment is made on or after 1 June in a financial year—the immediately succeeding financial year.