Social Security (Administration) Act 1999

This section applies if:

a person (the first person) is subject to the income management regime; and

the first person’s income management account has a credit balance; and

the first person does not have a Part 3B payment nominee.

The Secretary may, on behalf of the Commonwealth:

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the first person to acquire goods or services, so long as no part of the monetary value stored on the card may be withdrawn in cash; or

increase the monetary value stored on a stored value card held by the first person, so long as:

no part of the monetary value stored on the card may be withdrawn in cash; and

the stored value card enables the first person to acquire goods or services;

if paragraph (a) applies—the monetary value stored on the card does not exceed the credit balance of the first person’s income management account; or

if paragraph (c) applies—the increase in monetary value does not exceed the credit balance of the first person’s income management account.

A stored value card may be for limited goods or services.

If, under subsection (2), the Secretary gives 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.

If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the first person, the Income Management Record is debited by an amount equal to the increase in the monetary value.

If, under subsection (2), the Secretary gives 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.

If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the first person, the first person’s income management account is debited by an amount equal to the increase in the monetary value.

The Secretary must not, under subsection (2):

give the first person a stored value card; or

increase the monetary value stored on a stored value card;

If, under subsection (2), the Secretary gives the first person a stored value card, the giving of the card does not have consequences under the income tax law for the first person.

If, under subsection (2), the Secretary increases the monetary value stored on a stored value card held by the first person, the increase does not have consequences under the income tax law for the first person.