Social Security and Veterans' Entitlements Legislation Amendment (One-off Payments to Increase Assistance for Older Australians and Carers and Other Measures) Act 2006 (41 of 2006)

Schedule 1   2006 one-off payments to older Australians

Part 2   Related amendments

Income Tax Assessment Act 1997

11   After subsection 52-10(1C)

Insert:

(1CA) Payments of 2006 one-off payment to older Australians under Part 2.2C of the Social Security Act 1991 are exempt from income tax.

(1CB ) Payments to older Australians under the scheme determined under item 1 of Schedule 2 to the Social Security and Veterans' Entitlements Legislation Amendment (One-off Payments to Increase Assistance for Older Australians and Carers and Other Measures) Act 2006 are exempt from income tax.