Coronavirus Economic Response Package Omnibus Act 2020 (22 of 2020)

Schedule 4   Stimulus payments to households to support growth

Social Security (Administration) Act 1999

34   Before section 123XPC

Insert:

123XPBA Deductions from 2020 economic support payments

Scope

(1) This section applies if:

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

(b) a 2020 economic support payment is payable to the person.

Deductions from 2020 economic support payments

(2) The following provisions have effect:

(a) the Secretary must deduct from the 2020 economic support 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 2020 economic support payment is 100% of the amount of the payment.