220.127.116.11 Circumstances under which income managed funds can be paid out
Criteria for payment of income managed funds
The delegate is required to comply with specified criteria before they can take the actions discussed in 11.1.5.
Income managed funds can only be debited from a person's income management account when the amount to be debited does not exceed the credit balance of the person's income management account, and:
- the action taken is directed towards meeting the priority needs of the person, the person's partner or the person's dependents, or
- the action taken is for a purpose other than meeting priority needs and the delegate is satisfied that all relevant current and reasonably foreseeable priority needs can still be met if the funds are debited, or
- the person ceases to be subject to income management.
These criteria do not differ in cases where actions are being taken to allow a nominee access to a person's managed funds. The income management arrangements do not affect the obligations of the nominee to use a person's funds for the person's benefit.
Act reference: SS(Admin)Act section 123YA Priority needs-application of income management account, section 123YA(3) If the Secretary is satisfied that the current or future balance …, section 123WJ Payment of credit balances of income management accounts-person ceases to be subject to the income management regime