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Social Security and Other Legislation Amendment (Pension Reform and Other 2009 Budget Measures) Bill 2009

Schedule 8 Employment income attribution for persons of pension age

   

Social Security Act 1991

1  Subparagraph 1073A(1)(b)(ii)

Omit “and”.

2  Subparagraph 1073A(1)(b)(iii)

Repeal the subparagraph.

3  Section 1073B

Before “If”, insert “(1)”.

4  Paragraph 1073B(c)

Repeal the paragraph.

5  At the end of section 1073B

Add:

             (2)  If a person has reached pension age and is receiving a social security benefit, subsection (1) does not apply to the person, to the extent that it relates to that benefit.

Note 1:       Subsection (1) applies to a person who has not reached pension age and is receiving a social security benefit.

Note 2:       For pension age see subsections 23(5A), (5B), (5C) and (5D).

6  Application

The amendments made by this Schedule apply in relation to employment income that is earned, derived or received, or is taken to have been earned, derived or received, on or after the commencement of this item.