14.2.5 Member this Division applies to
14.2.6 Outlay advance – purpose
14.2.7 Outlay advance – payment
Guidance
Note: The approved form is FD071 - Payment of Overseas Outlay Advance Deed.
14.2.8 Outlay advance – statement
14.2.9 Outlay advance – recovery
Guidance
Example: A member applies for an AUD 15,000 outlay advance. The member spends AUD 12,000. After paying 13 repayments calculated under paragraph d, the member repays AUD 3,000. The member's new repayments are calculated as follows.
| Step | Action |
|---|---|
| 1. | The member's former repayments were AUD 576.92 a fortnight. (AUD 15,000 divided by 26). AUD 576.92 x 13 = AUD 7,499.96 |
| 2. | AUD 15,000 – 7,499.96 - 3,000 = AUD 4,500.04 |
| 3. | 26 – 13 = 13 |
| 4. | AUD 4,500.04 ÷ 13 = AUD 346.16 |
| 5. | The member must repay AUD 346.16 each fortnight. |
Guidance
