Document ID: chunk:federal_register_of_legislation:C2011C00056:clause:1_123ym:p2
Version: federal_register_of_legislation:C2011C00056
Segment Type: clause
Provision Reference: sch 1 cl 123YM (pt 2/2)
Character Range: 110546–112336

a third person a stored value card, the Special Account is debited by an amount equal to the monetary value stored on the card.

First person's income management account to be debited

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

 (6) If, under paragraph (2)(h) or (i), the Secretary gives the first person 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.

Criteria

 (7) The Secretary must not pay an amount under paragraph (2)(a), (b), (c), (d), (e), (f) or (g) if the Secretary has reasonable grounds to believe that the whole or a part of the amount paid will be used to acquire excluded goods or excluded services.

 (8) The Secretary must not give the first person or a third person a stored value card under paragraph (2)(h) or (i) if the Secretary has reasonable grounds to believe that the whole or a part of the monetary value stored on the card will be used to acquire excluded goods or excluded services.

Tax consequences

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

 (10) If the Secretary makes a payment under paragraph (2)(b), (c), (e) or (g), the payment does not have consequences under the income tax law for the first person or the third person.

 (11) If, under paragraph (2)(h) or (i), the Secretary gives the first person or a third person a stored value card, the giving of the card does not have consequences under the income tax law for the first person or the third person, as the case may be.