Document ID: chunk:federal_register_of_legislation:C2025C00136:section:35
Version: federal_register_of_legislation:C2025C00136
Segment Type: section
Provision Reference: s 35
Character Range: 40292–41204

35  Stage 2—working out an accumulated AASL debt
 (1) A person's accumulated AASL debt, for a financial year, is worked out as follows:
where:
AASL debt repayments is the sum of all of the voluntary AASL repayments (if any) paid, on or after 1 July in the financial year and before 1 June in that year, in reduction of the AASL debts incurred in that year.
AASL debts incurred is the sum of the amounts of all of the AASL debts (if any) that the person incurred during the first 6 months of the financial year.
completion discount means any completion discount for the person notified by the Secretary to the Commissioner under section 40 on or after 1 July in the financial year and before 1 June in that year.
former accumulated AASL debt is the person's former accumulated AASL debt in relation to that accumulated AASL debt.
 (2) The person incurs the accumulated AASL debt on 1 June in the financial year.