Document ID: chunk:federal_register_of_legislation:C2024C00458:section:123xpj
Version: federal_register_of_legislation:C2024C00458
Segment Type: section
Provision Reference: s 123XPJ
Character Range: 647065–647890

123XPJ  Deductions from clean energy income‑managed payments

Scope
 (1) This section applies if:
 (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.

Subdivision DF—ETR income‑managed payments