Document ID: chunk:federal_register_of_legislation:C2014C00182:clause:2_123xpl
Version: federal_register_of_legislation:C2014C00182
Segment Type: clause
Provision Reference: sch 2 cl 123XPL
Character Range: 76665–77479

123XPL  Deductions from schoolkids bonus payments

Scope
 (1) This section applies if:
 (a) a person is subject to the income management regime; and
 (b) a payment of schoolkids bonus under the Family Assistance Act is payable to the person.

Deductions from schoolkids bonus
 (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 payment of schoolkids bonus is 100% of the amount of the payment.

Part 2—Application and transitional provisions