Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022 (14 of 2022)
Schedule 8 2022 cost of living payment
Social Security (Administration) Act 1999
20 At the end of Subdivision DB of Division 5 of Part 3B
Add:
123XPE Deductions from 2022 cost of living payment
Scope
(1) This section applies if:
(a) a person is subject to the income management regime; and
(b) a 2022 cost of living payment is payable to the person.
Deductions from 2022 cost of living payment
(2) The following provisions have effect:
(a) the Secretary must deduct from the 2022 cost of living 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 2022 cost of living payment is 100% of the amount of the payment.