Document ID: chunk:federal_register_of_legislation:C2011C00056:clause:1_123yp:p2
Version: federal_register_of_legislation:C2011C00056
Segment Type: clause
Provision Reference: sch 1 cl 123YP (pt 2/2)
Character Range: 122273–123422

to be debited

 (6) If the Secretary pays an amount under paragraph (2)(a), (b), (c), (d), (e) or (f), the first person's income management account is debited by an amount equal to the amount paid.

 (7) If, under paragraph (2)(g) or (h), the Secretary gives the designated nominee or a third person a stored value card, the first person's income management account is debited by an amount equal to the monetary value stored on the card.

Tax consequences

 (8) If the Secretary makes a payment under paragraph (2)(a), (c) or (e), the payment does not have consequences under the income tax law for the designated nominee or the first person.

 (9) If the Secretary makes a payment under paragraph (2)(b), (d) or (f), the payment does not have consequences under the income tax law for the designated nominee, the first person or the third person.

 (10) If, under paragraph (2)(g) or (h), the Secretary gives the designated nominee or a third person a stored value card, the giving of the card does not have consequences under the income tax law for the designated nominee, the first person or the third person.

Subdivision D—Miscellaneous action