Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies if:
(a) a person (the first person ) is subject to the income management regime; and
(b) the first person's income management account has a credit balance; and
(c) the first person has a Part 3B payment nominee.
(2) The Secretary may, on behalf of the Commonwealth:
(a) give the Part 3B payment nominee a stored value card that enables the Part 3B payment nominee to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
(b) with the consent of the Part 3B payment nominee, give the first person a stored value card that enables the first person to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or
(c) increase the monetary value stored on a stored value card held by the Part 3B payment nominee, so long as:
(i) no part of the monetary value stored on the card may be withdrawn in cash; and
(ii) the stored value card enables the Part 3B payment nominee to acquire goods or services; or
(d) with the consent of the Part 3B payment nominee, increase the monetary value stored on a stored value card held by the first person, so long as:
(i) no part of the monetary value stored on the card may be withdrawn in cash; and
(ii) the stored value card enables the first person to acquire goods or services;
so long as:
(e) if paragraph (a) or (b) applies--the monetary value stored on the card does not exceed the credit balance of the first person's income management account; or
(f) if paragraph (c) or (d) applies--the increase in the monetary value does not exceed the credit balance of the first person's income management account.
(3) A stored value card may be for limited goods or services.
Income Management Record to be debited
(4) If, under subsection (2), the Secretary gives the Part 3B payment nominee or the first person a stored value card, the Income Management Record is debited by an amount equal to the monetary value stored on the card.
(5) 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 Income Management Record is debited 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.