SOCIAL SECURITY (ADMINISTRATION) ACT 1999 - SECT 123XPJ Deductions from clean energy income - managed payments
SOCIAL SECURITY (ADMINISTRATION) ACT 1999 - SECT 123XPJ
Deductions from clean energy income - managed payments(a) a person is subject to the income management regime; and
(b) a clean energy income - managed payment is payable to the person.
Deductions from clean energy income - managed payments
(2) The following provisions have effect:
(a) the Secretary must deduct from the 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 clean energy income - managed payment is 100% of the amount of
the payment.