Section 1061ZZFD — Social Security Act 1991: Amounts payable to the Commonwealth

(1) The amount that a person is liable to pay under section 1061ZZEZ, in respect of: (a) the 2019-20 income year; or (b) a later income year; is the amount worked out using the formula: where: applicable repayable amount means the amount that is the least of the following: (a) the amount worked out under subsection 154-20(2) of the Higher Education Support Act 2003 for the income year, as if: (i) references in that subsection to the person’s repayment income were references to the person’s repayment income within the meaning of this Chapter; and (ii) references in that subsection to the person’s minimum repayment income were references to the person’s minimum repayment income within the meaning of this Chapter; (b) the amount equal to 10% of the person’s repayment income for the income year; (c) the amount of the person’s repayable debt for the income year. relevant income-contingent loans liability means the amount that is the sum of the following: (a) the sum of any amounts the person is liable to pay under section 154-1 or 154-16 of the Higher Education Support Act 2003 in respect of the income year; (b) the sum of any amounts the person is liable to pay under section 23EA or 23EC of the VET Student Loans Act 2016 in respect of the income year. (3) A person is not liable under this section to pay an amount for an income year if the amount worked out under subsection (1) is zero or less.