SOCIAL SECURITY (ADMINISTRATION) ACT 1999 - SECT 123XN Deductions from category Q welfare payments--lump sums

SOCIAL SECURITY (ADMINISTRATION) ACT 1999 - SECT 123XN

Scope

  (1)   This section applies if:

  (a)   a person is subject to the income management regime under subsection   123UF(1) or (3); and

  (b)   a category Q welfare payment is payable to the person otherwise than by instalments.

Deductions from category Q welfare payments--lump sums

  (2)   The following provisions have effect:

  (a)   the Secretary must deduct from the category Q welfare 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 a category Q welfare payment is the percentage of the net amount of the payment determined by the Secretary in relation to the payment (rounded down to the nearest cent).

  (4)   The percentage specified in the determination must not exceed 100%.