Commonwealth: Family and Community Services Legislation Amendment (One-off Payment to the Aged) Act 2001 (Cth)

Family and Community Services Legislation Amendment (One‑off Payment to the Aged) Act 2001 No. 43, 2001 Family and Community Services Legislation Amendment (One‑off Payment to the Aged) Act 2001 No. 43, 2001 An Act to provide a one‑off payment to the aged, and for related purposes Contents 1 Short title................................... 2 Commencement............................... 3 Schedule(s).................................. Schedule 1—Amendments Income Tax Assessment Act 1997 Social Security Act 1991 Social Security (Administration) Act 1999 Family and Community Services Legislation Amendment (One-off Payment to the Aged) Act 2001 No. 43, 2001 An Act to provide a one-off payment to the aged, and for related purposes [Assented to 25 May 2001] The Parliament of Australia enacts: 1 Short title This Act may be cited as the Family and Community Services Legislation Amendment (One‑off Payment to the Aged) Act 2001. 2 Commencement This Act commences on the day on which it receives the Royal Assent. 3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Schedule 1—Amendments 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. Social Security Act 1991 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: Part 2.2B—One‑off payment to the aged 93X 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 Insert: 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) Insert: (g) one‑off payment to the aged; or 8 After section 47 Insert: 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. [Minister's second reading speech made in— House of Representatives on 22 May 2001 Senate on 23 May 2001] (80/01)