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.