Commonwealth Consolidated Acts

SOCIAL SECURITY (ADMINISTRATION) ACT 1999 - SECT 123XPI

Scope

             (1)  This section applies if:

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

                     (b)  a matched savings scheme (income management) payment is payable to the person.

Deductions from payments

             (2)  The following provisions have effect:

                     (a)  the Secretary must deduct from the matched savings scheme (income management) 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.

Deductible portion

             (3)  For the purposes of subsection (2), the deductible portion of the matched savings scheme (income management) payment is 100% of the amount of the payment.