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Student Loan Scheme Act 2011

Interest, relief, penalties and offences, rights of objection, and rights to challenge - Penalties and offences - Late filing penalties

156: Due dates for payment of late notification penalty

You could also call this:

“When you must pay a fine for not telling the government about changes to your student loan”

If you have to pay a penalty because you didn’t tell the government about changes to your student loan, you need to know when to pay it. You have to pay the penalty by the later of two dates:

  1. 60 days after you were told about the penalty or after it was publicly announced.

  2. A date that depends on your tax situation. This date is different for everyone and is based on when your financial year ends. You can find this date in a special table in the tax law. If you have extra time to tell the government about changes to your loan, you’ll use a different column in the table to find your date.

The government uses these rules to make sure everyone pays their penalties at the right time.

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Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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Part 4 Interest, relief, penalties and offences, rights of objection, and rights to challenge
Penalties and offences: Late filing penalties

156Due dates for payment of late notification penalty

  1. A borrower who is liable to pay a penalty under section 155 must pay the penalty on or before the later of—

  2. the date that is 60 days after the date of the notification to the borrower or public notice given under section 155(1); and
    1. the date that is—
      1. in column B of the table in Part A of Schedule 3 of the Income Tax Act 2007 that corresponds to the month of the borrower’s balance date (if the borrower does not have an extension of time under section 75 to notify the Commissioner of Schedule 3 adjustments); or
        1. in column F of the table in Part A of Schedule 3 of the Income Tax Act 2007 that corresponds to the month of the borrower’s balance date (if the borrower does have an extension of time under section 75 to notify the Commissioner of Schedule 3 adjustments).

        Notes
        • Section 156: replaced, on , by section 21 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).
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