Tasmanian Consolidated Acts Tasmanian Consolidated Acts
A Member is not required to disclose a liability or information relating to a liability to pay a debt if –
(a) the amount of the debt did not exceed $500 unless –
(i) the debt was one of 2 or more debts that the Member is liable to pay to one person as at the primary return date or during the ordinary return period; and
(ii) the amounts to be paid exceeded, in the aggregate, $500; or
(b) the Member is liable to pay the debt to a relative; or
(c) the debt arises from a loan of money and –
(i) the Member is liable to pay the debt to an authorised deposit-taking institution or other person whose ordinary business includes the lending of money; and
(ii) the loan was made in the ordinary course of business of the lender; or
(d) the debt arises from the supply of goods or services that were supplied –
(i) during the period of 12 months immediately preceding the primary return date or during the ordinary return period; and
(ii) in the ordinary course of any occupation of the Member that is not related to his or her duties as a Member.