Document ID: chunk:federal_register_of_legislation:C2015A00154:clause:2_47a
Version: federal_register_of_legislation:C2015A00154
Segment Type: clause
Provision Reference: sch 2 cl 47A
Character Range: 16611–17846

47A  Liability of overseas debtors to repay amounts
 (1) 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 TSL debt;
the person is liable to pay to the Commonwealth, in accordance with this Division, a levy of the amount worked out under subsection (2).
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.
 (2) The amount of levy that a person is liable to pay under this section, in respect of an income year, is an amount equal to the difference between:
 (a) the amount that the person would have been liable to pay under section 46 if:
 (i) the person had a repayment income for the income year of an amount equal to the person's assessed worldwide income for the income year; and
 (ii) subsection 46(3) did not apply to the person; and
 (b) the amount (if any) the person is liable to pay under section 46, in respect of the income year.