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Labor 2013-14 Budget Savings (Measures No. 2) Bill 2015

Schedule 4 Removal of voluntary repayment bonus

   

Higher Education Support Act 2003

1  Section 129-1

Omit “(which may attract a repayment bonus)”.

2  Subsection 140-5(1) (example)

Omit “2011” (wherever occurring), substitute “2013”.

3  Subsection 140-5(1) (example)

Omit “(which includes a voluntary repayment bonus of $25)”.

4  Subsection 140-5(1) (example)

Omit “2012” (wherever occurring), substitute “2014”.

5  Subsection 140-5(1) (example)

Omit “2010-11”, substitute “2012-13”.

6  Section 148-1

Omit “In some cases these may attract a 5% repayment bonus.”.

7  Section 151-5

Repeal the section.

8  Application

The amendments made by this Schedule apply in relation to a voluntary repayment made on or after the first 1 January that occurs at least 3 months after the day on which this Act receives the Royal Assent, regardless of when the debt to which the repayment relates was incurred.