Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1061zvea
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1061ZVEA
Character Range: 1489678–1490612

1061ZVEA  Simplified outline of this Division

      There are 2 stages to working out a person's accumulated SSL debt for a financial year.
      In stage 1, the person's former accumulated SSL debt is worked out by adjusting the preceding financial year's accumulated SSL debt to take account of:
             (a) the HELP debt indexation factor for 1 June in that financial year; and
             (b) the debts that the person incurs during the last 6 months of the preceding financial year; and
             (c) voluntary SSL repayments of the debt; and
             (d) compulsory SSL repayment amounts in respect of the debt.
      In stage 2, the person's accumulated SSL debt is worked out from:
             (a) the person's former accumulated SSL debt; and
             (b) the SSL debts that the person incurs during the first 6 months of the financial year; and
             (c) voluntary SSL repayments of those debts.