A New Tax System (Bonuses for Older Australians) Act 1999 (REPEALED)

Part 4 - ATO clients who qualify for bonus payment  

Division 3 - Qualification for bonus payment  

41   Qualification for components of bonus payment  
Aged persons savings bonus component

(1)    
An ATO client is qualified for the aged persons savings bonus component of a bonus payment if:

(a) he or she is aged 60 or more on 1 July 2000; and

(b) he or she is an Australian resident on 1 July 2000; and

(c) his or her taxable income as shown in his or her assessment is less than $30,000, and he or she has adjusted savings and investment income, for the qualifying year, or for either or each of the qualifying years, specified in the claim; and

(d) the amount of the component, worked out under subsection 45(4) , is greater than nil.

Self-funded retirees supplementary bonus component - person aged over 61 ½ (woman) or over 65 (man)

(2)    
An ATO client is qualified for the self-funded retirees supplementary bonus component of a bonus payment if:

(a) on 1 July 2000, he is aged 65 or more or she is aged 61 ½ or more; and

(b) he or she is an Australian resident on 1 July 2000; and

(c) his or her taxable income as shown in his or her assessment for the qualifying year, or for either or each of the qualifying years, is less than $30,000, and he or she has adjusted savings and investment income of more than $1,000, for that year or those years; and

(d) at least one of the following applies:

(i) he or she did not receive a disqualifying payment at any time during the period from the start of 1 April 2000 until the end of 30 June 2000;

(ii) he or she received a disqualifying payment during the period from the start of 1 April 2000 until the end of 29 June 2000, his or her partner died during that period and he or she is not receiving a disqualifying payment on 30 June 2000;

(iii) he or she received a disqualifying payment during the period from the start of 1 April 2000 until the end of 30 June 2000 in a circumstance prescribed by the regulations for the purposes of this subparagraph; and

(e) the amount of the self-funded retirees supplementary bonus component, worked out under subsection 45(5) , is greater than nil.

Self-funded retirees supplementary bonus component - person aged between 55 and 61 ½ (woman) or 65 (man)

(3)    
An ATO client is qualified for the self-funded retirees supplementary bonus component of a bonus payment if:

(a) on 1 July 2000:

(i) he or she is aged 55 or more; and

(ii) he is aged under 65 or she is aged under 61 ½ ; and

(b) he or she is an Australian resident on 1 July 2000; and

(c) his or her taxable income as shown in his or her assessment for the qualifying year, or for either or each of the qualifying years, is less than $30,000, and he or she has annual adjusted savings and investment income for that year or those years; and

(d) his or her adjusted business and wages income for the 1999-2000 income year does not exceed $1,000; and

(e) he or she did not receive a disqualifying payment at any time during the 1999-2000 income year; and

(f) the amount of the self-funded retirees supplementary bonus component, worked out under whichever of subsections 45(5) and (6) applies, is greater than nil.