Social Security and Veterans' Affairs Legislation Amendment (One-off Payments and Other 2007 Budget Measures) Act 2007 (66 of 2007)

Schedule 1   2007 one-off payments to older Australians

Part 2   Related amendments

Income Tax Assessment Act 1997

21   Subsection 52-10(1CB)

Repeal the subsection, substitute:

(1CB) Payments to older Australians under the following schemes are exempt from income tax:

(a) a 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;

(b) a scheme determined under item 1 of Schedule 2 to the Social Security and Veterans' Affairs Legislation Amendment (One-off Payments and Other 2007 Budget Measures) Act 2007.