Explanatory Memorandum
(Circulated by the authority of the Minister for Social Services, the Hon Kevin Andrews MP)Schedule 6 - Young Carer Bursary Programme
Summary
This Schedule amends the Social Security Act and the Veterans' Entitlements Act to ensure that a payment of a bursary under the programme established by the Commonwealth and known as the Young Carer Bursary Programme is not counted as income.
Background
The Young Carer Bursary Programme is a 2014 Budget measure which will provide bursary payments to young carers aged 25 years and under to relieve the financial pressure on them to undertake part-time work in addition to their educational and caring responsibilities. The funding will provide 150 bursary payments of up to $10,000 a year from January 2015, and will target young carers in greatest financial need.
The Young Carer Bursary Programme will have positive long-term financial impacts through the expected contribution to educational retention among young carers, and will assist an estimated 450 young carers over three years.
The amendments made by this Schedule will ensure that a payment of a bursary under the Young Carer Bursary Programme is not to be treated as income for the purposes of the social security law and the Veterans' Entitlements Act.
The amendments made by this Schedule commence on 1 January 2015.
Explanation of the changes
Amendments to the Social Security Act
Subsection 8(8) of the Social Security Act lists amounts that are not income for social security purposes. Item 1 inserts a new paragraph (jai) into subsection 8(8) to ensure that a payment of a bursary under the programme established by the Commonwealth and known as the Young Carer Bursary Programme does not count as income for the purposes of the social security law.
Amendments to the Veterans' Entitlements Act
Item 2 inserts a new paragraph (pabc) into subsection 5H(8) of the Veterans' Entitlements Act to ensure that a payment of a bursary under the programme established by the Commonwealth and known as the Young Carer Bursary Programme does not count as income for the purposes of the Veterans' Entitlements Act.