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Effect of death of customer on Financial Supplement loan (FSL) after transfer to the Australian Taxation Office (ATO) 102-15010100

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The Student Financial Supplement Scheme (SFSS) closed from 1 January 2004. Since December 2005 all outstanding Financial Supplement Loans (FSL) have been transferred to the Australian Taxation Office (ATO) for recovery.

This page contains information on what to do when notification is received that a customer with an outstanding Student Financial Supplement Loan (FSL) dies.

Notification of death of a FSL customer

This table describes the steps to take when a third party advises of a death of a customer who has an outstanding FSL.

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Step

Action

1

Advice of death by third party

A third party advises of the death of a student who has an outstanding Financial Supplement Loan (FSL).

2

Death action

Complete the death action to confirm the death of the student and to update their record.

3

Supplement Loan Summary (SLS) screen

Check the SLS screen. All loans have been transferred to the Australian Taxation Office (ATO) and will be marked as closed (CLS-ATO).

4

Third party information

Advise the third party that they should advise the ATO of the customer’s death in order for any outstanding FSL debt to be discharged.

  • The only FSL debt that the estate will be liable for is where a tax assessment has been issued up to and including the date of death return (that is, If a tax return has already been assessed as requiring compulsory FSL repayment). The compulsory repayment amount would transfer to the estate for recovery and any remaining FSL debt will be written off
  • Any further enquiries regarding FSL should be referred to the ATO individuals enquiries number

5

Record details

Record all details of contact and referral on a DOC.