Section 1157H — Social Security Act 1991: Exempt loan benefit

(3) The making of a loan is exempt if: (a) the loan consists of an advance by the employer to the employee; and (b) the loan is made for the sole purpose of enabling the employee to meet expenses incurred in performing the duties of his or her employment; and (c) the amount of the loan is not substantially greater than the amount of those expenses that could reasonably be expected to be incurred by the employee; and (d) the employee is required: (i) to account to the employer for expenses met from the loan; and (ii) to repay (whether by set-off or otherwise) any amount not so accounted for. (4) The making of a loan is exempt if: (a) the loan consists of an advance by the employer to the employee; and (b) the sole purpose of the making of the loan is to enable the employee to pay any of the following amounts payable by the employee in respect of accommodation: (i) a rental bond; (ii) a security deposit in respect of electricity, gas or telephone services; (iii) any similar amount; and (c) the employee is required to repay (whether by set-off or otherwise) the loan amount of the advance.