Document ID: chunk:federal_register_of_legislation:C2024C00458:section:123yf:p2
Version: federal_register_of_legislation:C2024C00458
Segment Type: section
Provision Reference: s 123YF (pt 2/2)
Character Range: 661014–662499

by an amount equal to the increase in the monetary value.

First person's income management account to be debited
 (6) If, under subsection (2), the Secretary gives the Part 3B payment nominee or the first 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.
 (7) If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the Part 3B payment nominee or the first person, the first person's income management account is debited by an amount equal to the increase in the monetary value.

Criteria
 (8) The Secretary must not, under subsection (2):
 (a) give the Part 3B payment nominee or the first person a stored value card; or
 (b) increase the monetary value stored on a stored value card;
if the Secretary is satisfied that the relevant goods or services are excluded goods or excluded services.

Tax consequences
 (9) If, under subsection (2), the Secretary gives the Part 3B payment nominee or the first person a stored value card, the giving of the card does not have consequences under the income tax law for the Part 3B payment nominee or the first person.
 (10) If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the Part 3B payment nominee or the first person, the increase does not have consequences under the income tax law for the Part 3B payment nominee or the first person.