Social Security and Veterans' Entitlements Legislation Amendment (One-off Payments and Other Budget Measures) Act 2008 (19 of 2008)

Schedule 1   2008 one-off payments to older Australians

Part 2   Related amendments

Income Tax Assessment Act 1997

20   Subsections 52-10(1CA) and (1CAA)

Repeal the subsections, substitute:

(1CA) The following payments under the Social Security Act 1991 are exempt from income tax:

(a) 2006 one-off payment to older Australians (see Division 2 of Part 2.2B of that Act);

(b) 2007 one-off payment to older Australians (see Division 3 of Part 2.2B of that Act);

(c) 2008 one-off payment to older Australians (see Division 4 of Part 2.2B of that Act).