Deductions from clean energy income‑managed payments
123XPJ Deductions from clean energy income‑managed payments
Scope
This section applies if:
a person is subject to the income management regime; and
a clean energy income‑managed payment is payable to the person.
Deductions from clean energy income‑managed payments
The following provisions have effect:
the Secretary must deduct from the payment the deductible portion of the payment;
an amount equal to the deductible portion of the payment is credited to the Income Management Record;
an amount equal to the deductible portion of the payment is credited to the person’s income management account.
For the purposes of subsection (2), the deductible portion of a clean energy income‑managed payment is 100% of the amount of the payment.
This Act’s bill:Explanatory memorandumSecond reading speech
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