126.96.36.199 Record of expenditure under income management
Payment nominees - record of expenditure
A Part 3B payment nominee, appointed under SS(Admin)Act section 123B or FA(Admin)Act section 219TB, should keep a record of the person's expenditure for any review of the nominee arrangement.
This requirement continues under income management for funds that the payment nominee receives and disburses on behalf of the principal. There is, however, no need for the payment nominee to maintain records for funds that are disbursed directly to a third party from the income management account.
Example: Felix is a payment nominee for another person. Felix may be required to show receipts for any purchases he makes using the BasicsCard. Felix does not need to have receipts for rent or utility payments made directly to the relevant provider.