Section 123XPE — Social Security (Administration) Act 1999: Deductions from 2022 cost of living payment

Scope (1) This section applies if: (a) a person is subject to the income management regime; and (b) a 2022 cost of living payment is payable to the person. Deductions from 2022 cost of living payment (2) The following provisions have effect: (a) the Secretary must deduct from the 2022 cost of living payment the deductible portion of the payment; (b) an amount equal to the deductible portion of the payment is credited to the Income Management Record; (c) an amount equal to the deductible portion of the payment is credited to the person’s income management account. (3) For the purposes of subsection (2), the deductible portion of a 2022 cost of living payment is 100% of the amount of the payment.