The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia. Income Management Record

Income management accounts & Income Management Record

Payment amounts subject to income management are to be paid into a person's income management account. Each person's income managed funds are held in an income management account within the Income Management Record. This ensures that balance checking includes:

  • people being able to keep track of their income managed funds through access to account statements, issued quarterly or upon reasonable request from the person
  • there is proper accountability for the funds of each person, and
  • funds are not used by the Commonwealth for another purpose.

Interest is not payable on amounts held in a person's income management account and no fees are charged for these accounts or transactions involving these accounts.

People should use the income management funds to meet their priority needs. Once priority needs are met, the delegate cannot unreasonably refuse a person access to the funds in their income management account, provided the funds will not be used to purchase excluded items.

Example: Evan is subject to income management under the Long-term Welfare Payment Recipients Measure. The delegate is satisfied that his current priority needs have been met and that he will be able to meet his foreseeable needs. Evan has accumulated some unspent funds in his income management account and would like to purchase an MP3 player. It is acceptable for Evan to do this as long as his priority needs continue to be met.

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