Document ID: chunk:federal_register_of_legislation:C2025C00140:clause:1_4:p53
Version: federal_register_of_legislation:C2025C00140
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 53/67)
Character Range: 417584–420349

*quarter ending on 31 March in the immediately preceding financial year; and
                (b) the CPI index numbers for the 3 quarters that immediately preceded that quarter.

           Step 3. The CPI indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2, rounded to 3 decimal places.
 (1C) The WPI indexation factor for 1 June in a financial year is worked out using the following method statement:

               Method statement

           Step 1.  Add:

                (a) the *WPI index number for the *quarter ending on 31 March in that financial year; and
                (b) the WPI index numbers for the 3 quarters that immediately preceded that quarter.

           Step 2.  Add:

                (a) the *WPI index number for the *quarter ending on 31 March in the immediately preceding financial year; and
                (b) the WPI index numbers for the 3 quarters that immediately preceded that quarter.

           Step 3. The WPI indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2, rounded to 3 decimal places.
 (2) For the purposes of rounding a *HELP debt indexation factor, the third decimal place is rounded up if, apart from the rounding:
 (a) the factor would have 4 or more decimal places; and
 (b) the fourth decimal place would be a number greater than 4.

140‑20  Publishing HELP debt indexation factors
  The *Commissioner must cause to be published before 1 June in each financial year the *HELP debt indexation factor within the meaning of paragraph 140‑10(1)(b) for that 1 June.

Subdivision 140‑C—Accumulated HELP debts

140‑25  Working out an accumulated HELP debt
 (1) A person's accumulated HELP debt, for a financial year, is worked out as follows:
where:
former accumulated HELP debt is the person's *former accumulated HELP debt in relation to that *accumulated HELP debt.
HELP debt repayments is the sum of all of the *voluntary repayments (if any) paid, on or after 1 July in the financial year and before 1 June in that year, in reduction of the *HELP debts incurred in that year.
HELP debts incurred means the amount worked out using the method statement in subsection (1A).
location‑preferred HELP debtor reduction means the amount by which the person's *accumulated HELP debt is to be reduced as a result of a determination made by the *Secretary in relation to the person under section 142‑15 or 144‑10:
 (a) on or after 1 June in the preceding financial year; and
 (b) before 1 June in the financial year.
‑Example: Paula is studying part‑time for a Degree of Bachelor of Science. On 1 June 2009, her former accumulated HELP debt was worked out using Subdivision 140‑B to be $20,000.