Social Security Legislation Amendment (Increased Employment Participation) Act 2014 (Cth)

Social Security Legislation Amendment (Increased Employment Participation) Act 2014

No. 35, 2014

An Act to amend the law relating to social security, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Job commitment bonus amendments Part 1—Main amendments Social Security Act 1991 Social Security (Administration) Act 1999 Part 2—Taxation amendments Income Tax Assessment Act 1997 Part 3—Application provisions Schedule 2—Relocation assistance amendments Social Security (Administration) Act 1999

Social Security Legislation Amendment (Increased Employment Participation) Act 2014 No. 35, 2014

An Act to amend the law relating to social security, and for related purposes

[Assented to 18 June 2014]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Social Security Legislation Amendment (Increased Employment Participation) Act 2014.

2 Commencement This Act commences on 1 July 2014.

3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Job commitment bonus amendments

Part 1—Main amendments

Social Security Act 1991

1 Subsection 23(1) Insert: job commitment bonus means job commitment bonus under subsection 861(1) or (3).

2 After Part 2.16 Insert:

Part 2.16A—Job commitment bonus

860 Simplified outline of this Part

A person aged 18 or over and under 31 who receives newstart allowance, or certain youth allowance, for at least 12 months and who then completes 12 months continuous gainful work may qualify for a job commitment bonus of $2,500. If the person then completes a further 12 months continuous gainful work, the person may qualify for another job commitment bonus of $4,000. Gainful work covers work for financial gain or reward (whether as an employee, a self‑employed person or otherwise).