Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Act 2012 (50 of 2012)

Schedule 2   Schoolkids bonus

Part 1   Main amendments

Social Security (Administration) Act 1999

18   Before Subdivision E of Division 5 of Part 3B

Insert:

Subdivision DG - Schoolkids bonus payments

123XPL Deductions from schoolkids bonus payments

Scope

(1) This section applies if:

(a) a person is subject to the income management regime; and

(b) a payment of schoolkids bonus under the Family Assistance Act is payable to the person.

Deductions from schoolkids bonus

(2) The following provisions have effect:

(a) the Secretary must deduct from the payment the deductible portion of the payment;

(b) an amount equal to the deductible portion of the payment is credited to the Income Management Record;

(c) an amount equal to the deductible portion of the payment is credited to the person's income management account.

(3) For the purposes of subsection (2), the deductible portion of a payment of schoolkids bonus is 100% of the amount of the payment.