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SOCIAL SECURITY ACT 1991 - SECT 19AA

Student start-up loan definitions

                   For the purposes of Chapter 2AA:

"accumulated SSL debt" has the meaning given by section 1061ZVEC.

"approved form" has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953 .

"Commissioner" means the Commissioner of Taxation.

"compulsory SSL repayment amount" means an amount that:

                     (a)  is required to be paid in respect of an accumulated SSL debt under section 1061ZVHA; and

                     (b)  is included in a notice of assessment made under section 1061ZVHC.

"enrolment test day" has the meaning given by subsection 1061ZVDA(5).

"former accumulated SSL debt" has the meaning given by section 1061ZVEB.

"HELP debt indexation factor" has the same meaning as in the Higher Education Support Act 2003 .

"HELP repayment income has the same meaning as repayment income" has in the Higher Education Support Act 2003 .

"income tax" has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997 .

"income tax law" has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997 .

"income year" has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997 .

"Medicare levy" means the Medicare levy imposed by the Medicare Levy Act 1986 .

"minimum HELP repayment income has the same meaning as minimum repayment income" has in the Higher Education Support Act 2003 .

"qualification period" , for a student start-up loan, means a period of 6 months starting on 1 January or 1 July in any year.

"qualification test day" has the meaning given by subsection 1061ZVBB(3).

"repayable SSL debt" has the meaning given by section 1061ZVHB.

"return" means an income tax return within the meaning of subsection 995-1(1) of the Income Tax Assessment Act 1997 .

"SSL debt" means a debt incurred under section 1061ZVDA.

"student start-up loan" means a loan for which a person qualifies under Part 2AA.2.

"voluntary SSL repayment" means a payment made to the Commissioner in discharge of an accumulated SSL debt or an SSL debt. It does not include a payment made in discharge of a compulsory SSL repayment amount.



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