Document ID: chunk:federal_register_of_legislation:C2025C00136:section:47
Version: federal_register_of_legislation:C2025C00136
Segment Type: section
Provision Reference: s 47
Character Range: 49279–50220

47  Repayable AASL debt for an income year
 (1) A person's repayable AASL debt for an income year is:
 (a) the person's accumulated AASL debt referred to in paragraph 46(1)(b) in relation to that income year; or
 (b) if any or all of the following apply:
 (i) that debt has been reduced by the amount of a completion discount for the person;
 (ii) one or more amounts have been paid in reduction of that debt;
 (iii) one or more amounts have been assessed under section 48 to be payable in respect of that debt;
  the amount (if any) remaining after deducting from that debt any amounts referred to in subparagraphs (i), (ii) and (iii).
 (2) A reference in paragraph (1)(b) of this section to an amount assessed to be payable is, if the amount has been increased or reduced by an amendment of the relevant assessment, a reference to the increased amount or the reduced amount.

Subdivision AA—Liability of overseas debtors to repay amounts