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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000-2001
The
Parliament of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Family and
Community Services Legislation Amendment (One-off Payment to the Aged) Bill
2001
No. ,
2001
(Family and Community
Services)
A Bill for an Act to provide a
one-off payment to the aged, and for related purposes
ISBN: 0642 457840
Contents
Income Tax Assessment Act
1997 3
Social Security Act
1991 3
Social Security (Administration) Act
1999 4
A Bill for an Act to provide a one-off payment to the
aged, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Family and Community Services Legislation
Amendment (One-off Payment to the Aged) Act 2001.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
Income Tax Assessment Act
1997
1 Subsection 52-10(1)
After “pension bonus”, insert “or one-off payment to the
aged”.
2 After subsection
52-10(1A)
Insert:
(1B) One-off payment to the aged under Part 2.2B of the Social
Security Act 1991 is exempt from income tax.
3 After subparagraph
8(8)(y)(i)
Insert:
(ia) one-off payment to the aged under regulations made under the
Veterans’ Entitlements Act; or
4 After paragraph 8(8)(y)
Insert:
(ya) a payment made by the Commonwealth and known as the one-off payment
to the aged; or
5 After Part 2.2A
Insert:
(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
Insert:
A claim is not required for one-off payment to the aged.
7 After paragraph 47(1)(f)
Insert:
(g) one-off payment to the aged; or
8 After section 47
Insert:
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.