Social Security (Administration) (Income Management – Crediting of Accounts) Rules 2025
6Crediting the Income Management Record and a person’s income management account
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6 Crediting the Income Management Record and a person’s income management account
(1) This section specifies the circumstances in which amounts are to be credited to the Income Management Record and the income management account of a person (the affected person) and how those amounts are to be ascertained. (2) The circumstances are: (a) the threshold circumstance mentioned in subsection (3); and (b) any of the particular circumstances mentioned in an item of the table in subsection (6). (3) The threshold circumstance is that the Income Management Record and the affected person’s income management account is debited by an amount (the debited amount) for any of the following purposes: (a) if the affected person does not have a Part 3B payment nominee: (i) giving a stored value card to the person; or (ii) increasing the monetary value stored on a stored value card held by the person; (b) if the affected person has a Part 3B payment nominee: (i) giving a stored value card to the Part 3B payment nominee; or (ii) increasing the monetary value stored on a stored value card held by the Part 3B payment nominee. (4) For subsection (3), the debited amount may be made up of: (a) a single transaction for the debited amount; or (b) a series of transactions that, taken together, have the effect of debiting the Income Management Record and the affected person’s income management account by the debited amount. (5) The amount that is to be credited to the Income Management Record and an affected person’s income management account (the crediting amount) in any particular circumstances mentioned in an item of the table in subsection (6) is: (a) the amount shown in the item; or (b) if the monetary value stored on the stored value card is a lesser amount — the lesser amount; or (c) if no monetary value is stored on the stored value card — nil.
Note: Both the Income Management Record and the income management account are to be credited by the crediting amount.
(6) The following table is for the purposes of subsections (2) and (5):
| Item | Particular circumstances | Crediting amount |
|---|---|---|
| 1 | The Secretary agrees to a request to reduce the monetary value stored on the stored value card that is made by:(a) the affected person; or(b) if the affected person has a Part 3B payment nominee— the affected person or the Part 3B payment nominee | The amount of the requested reductionNote: In some circumstances the monetary value stored on the card could be less than the amount of the requested reduction. In that case, the reduction is limited to the stored amount: see paragraph 6(5)(b) |