220.127.116.11 Income management disbursement calculations
Although the legislation leaves it open to the delegate to determine the way or ways in which an income management account balance is paid (including the number, timing and value of the instalments or lump sum payments), for consistency and expediency, the following general guidelines have been developed for disbursement through instalments.
It should be noted that the following is a guide only. Individual circumstances should be considered in disbursing funds.
|If the balance is …||then …|
|under $200||the full balance may be paid to the person's bank account.|
|between $201 and $4,200||the balance should be paid in $200 instalments, until the full amount has been disbursed. This ensures that income management balances are paid out quickly.|
|over $4,200||the balance should be divided by the number of fortnights left until the 1 year anniversary of the person ceasing to be income managed.|