Document ID: chunk:federal_register_of_legislation:C2006A00047:clause:2_12zk
Version: federal_register_of_legislation:C2006A00047
Segment Type: clause
Provision Reference: sch 2 cl 12ZK
Character Range: 19286–20199

12ZK  Compulsory payments in respect of accumulated FS debt

 (1) If:
 (a) a person's repayment income for the income year 2006‑07 or a subsequent income year exceeds the minimum repayment income for that income year; and
 (b) on 1 June immediately preceding the making of an assessment in respect of the person's income for that income year, the person had an accumulated FS debt;
the person is liable to pay to the Commonwealth, in accordance with this Division, the amount worked out under section 12ZLC in reduction of the person's repayable debt.

 (2) A person is not liable under this section to pay an amount for an income year if, under section 8 of the Medicare Levy Act 1986:
 (a) no Medicare levy is payable by the person on the person's taxable income for the income year; or
 (b) the amount of the Medicare levy payable by the person on the person's taxable income for the income year is reduced.