Commonwealth Numbered Acts

FAMILY AND COMMUNITY SERVICES LEGISLATION AMENDMENT (ONE-OFF PAYMENT TO THE AGED) ACT 2001 NO. 43, 2001 - SCHEDULE 1

Income Tax Assessment Act 1997

1 Subsection 52-10(1)

2 After subsection 52-10(1A)

(1B) One-off payment to the aged under Part 2.2B of the Social Security Act 1991 is exempt from income tax.

Social Security Act 1991

3 After subparagraph 8(8)(y)(i)

(ia)

one-off payment to the aged under regulations made under the Veterans' Entitlements Act; or

4 After paragraph 8(8)(y)

(ya)

a payment made by the Commonwealth and known as the one-off payment to the aged; or

5 After Part 2.2A

Part 2.2B—One-off payment to the aged

(1) A person is qualified for one-off payment to the aged if:

(a)

the person has reached pension age on or before 22 May 2001; and

(b)

a social security pension or a social security benefit is payable to the person on 22 May 2001; and

(c)

the person is not:

(i)

a veteran of pension age who is eligible to be paid an age service pension, or an invalidity service pension, under the Veterans' Entitlements Act on 22 May 2001; or

(ii)

a person (other than a veteran of pension age) who is eligible to be paid a partner service pension, or income support supplement, under the Veterans' Entitlements Act on 22 May 2001; or

(iii)

a person of pension age who is in receipt of a pension described in subsection 4(6) of the Veterans' Entitlements (Transitional Provisions and Consequential Amendments) Act 1986 ; or

(iv)

a person who, under the ABSTUDY Scheme, has received a one-off payment to the aged.

(2) The amount of the one-off payment to the aged is a one-off payment of $300.

Social Security (Administration) Act 1999

6 After section 12

12A One-off payment to the aged

A claim is not required for one-off payment to the aged.

7 After paragraph 47(1)(f)

(g)

one-off payment to the aged; or

8 After section 47

47A Payment of one-off payment to the aged

One-off payment to the aged is to be paid to a person on the date that is determined by the Secretary to be the earliest date on which it is reasonably practicable for the payment to be made to the person.