Summary
Amends the:
Social Security Act 1991
and
Veterans’ Entitlements Act 1986
to provide eligible social security pensioners over age pension age, and certain veterans’ entitlement recipients over qualifying age, with a $4,000 work bonus concession balance on commencement and a permanent increase to the maximum concession balance they can accrue;
Social Security Act 1991
to enable eligible social security recipients, including recipients who take up full-time work, to access an extended employment income nil rate period of 24 weeks; and
A New Tax System (Family Assistance) Act 1999
and
A New Tax System (Family Assistance) (Administration) Act 1999
to make consequential amendments.