Document ID: chunk:federal_register_of_legislation:C2024A00108:clause:1_66
Version: federal_register_of_legislation:C2024A00108
Segment Type: clause
Provision Reference: sch 1 cl 66
Character Range: 27721–28977

66  When refunds are required
 If:
 (a) the Student Assistance Act 1973, as amended by this Schedule applies for the purposes of working out the following for a person:
 (i) an FS debt;
 (ii) an accumulated FS debt;
 (iii) the amount outstanding under a person's FS contract;
 (iv) an accumulated ABSTUDY SSL debt;
 (v) a former accumulated ABSTUDY SSL debt; and
 (b) because of the operation of item 65 of this Schedule, the amount previously paid by the person to the Commonwealth under Part 2 or 4A of the Student Assistance Act 1973, as in force immediately before the commencement of Part 3 of this Schedule exceeds the sum of:
 (i) the amount required immediately before that commencement to discharge the total debt or amount that the person owes to the Commonwealth under Part 2 or 4A of the Student Assistance Act 1973, as amended by this Schedule; and
 (ii) the total amount immediately before that commencement of the person's primary tax debts (within the meaning of the Taxation Administration Act 1953);
the Commonwealth must refund to the person an amount equal to that excess.
Note: Interest may be payable if the Commonwealth is late in paying refunds: see Part IIIA of the Taxation (Interest on Overpayments and Early Payments) Act 1983.