Waiver-of-Debt-fact-sheet.pdf - Waiver of Debt What is the waiver of debt power The waiver of debt power is only applicable to debts owed to

Waiver-of-Debt-fact-sheet.pdf - Waiver of Debt What is the...

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1 Waiver of Debt What is the waiver of debt power? The waiver of debt power is only applicable to debts owed to non-corporate Commonwealth entities (NCEs), as defined by the Public Governance, Performance and Accountability Act 2013 (PGPA Act). A waiver is a special concession granted to a person or organisation that extinguishes a debt owed to the Commonwealth. This means that the debt is completely forgiven and can no longer be recovered. Who has the authority to waive a debt? Under section 63 of the PGPA Act, the Finance Minister may waive amounts owing to the Commonwealth. The waiver of debt power has been delegated to officials within the Department of Finance (Finance). The decision maker may apply the principles in Requests for discretionary financial assistance under the Public Governance, Performance and Accountability Act 2013 Resource Management Guide No. 401 which is available here: - grace-mechanism/information-for-entity-staff/ The waiver of debt power is discretionary. This means there is no situation which creates an automatic entitlement to a waiver of debt. When are debts waived? Debts may be waived where the decision maker considers recovery of the debt would be inequitable or cause ongoing financial hardship, and that other debt treatment options (such as an agency writing off the debt or deferring payment) are not appropriate. The waiver of debt mechanism is generally an avenue of last resort. It is not used where other viable
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  • Winter '15
  • UmaMurthy

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