Commonwealth Numbered Acts

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A NEW TAX SYSTEM (FAMILY ASSISTANCE) (ADMINISTRATION) ACT 1999 - SECT 67

Effect of garnishee etc. order
(1)
If:

(a)
a person has an account with a financial institution; and

(b)
payments of any of the kinds mentioned in subsection 66(1) are being paid, or have been paid, to the credit of the account; and

(c)
a court order in the nature of a garnishee order comes into force in respect of the account;

the court order does not apply to the saved amount (if any) in the account.

(2)
The saved amount is worked out as follows:

Method statement

Step 1. Work out the total amount of the payments mentioned in subsection (1) that have been paid to the credit of the account during the 4 week period immediately before the court order came into force. Step 2. Subtract from the step 1 amount the total amount withdrawn from the account during the same 4 week period: the result is the saved amount .


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