Summary
Amends the:
Social Security Act 1991
and
Social Security (Administration) Act 1999
to provide that job seekers aged from 18 to 30 years who have been receiving newstart or youth allowance for at least 12 months will be eligible to receive a $2500 tax free payment (the first job commitment bonus) if they remain in gainful work and off income support for a continuous period of at least 12 months, and a further $4000 tax free payment (the second bonus) if they remain in continuous gainful work for an additional 12 months;
Income Tax Assessment Act 1997
to provide that the job commitment bonus is not subject to income tax; and
Social Security (Administration) Act 1999
to: provide financial assistance through the Relocation Assistance to Take Up a Job program to job seekers receiving newstart, youth allowance or parenting payments; and provide that recipients of relocation assistance who leave employment without a reasonable excuse within six months incur a 26-week non-payment period before becoming eligible to receive unemployment benefits again.