Document ID: chunk:federal_register_of_legislation:C2025C00168:section:23ca
Version: federal_register_of_legislation:C2025C00168
Segment Type: section
Provision Reference: s 23CA
Character Range: 39589–40673

23CA  Simplified outline of this Division

      There are 2 stages to working out a person's accumulated VETSL debt for a financial year.
      In stage 1, the person's former accumulated VETSL debt is worked out. This is done by adjusting the preceding financial year's accumulated VETSL debt to take account of:
             (a) changes in the Consumer Price Index and the Wage Price Index; and
             (b) the VETSL debts the person incurs during the last 6 months of the preceding financial year; and
             (c) voluntary repayments of the debt; and
             (d) compulsory VETSL repayment amounts in respect of the debt.
      In stage 2, the person's accumulated VETSL debt is worked out from:
             (a) the person's former accumulated VETSL debt; and
             (b) the VETSL debts the person incurs during the first 6 months of the financial year; and
             (c) voluntary repayments of those debts.
Note: Incurring that financial year's accumulated VETSL debt discharges the previous accumulated VETSL debt and VETSL debts: see section 23CE.