Income Management for businesses
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What Income Management is
Income Management is a practical measure to assist customers to meet essential household needs and expenses. It does not reduce a customer's entitlements; rather it sets aside a percentage of certain income support and family payments to be spent on priority goods and services such as food, housing, clothing, education and health care.
Customers cannot purchase alcohol, tobacco, pornography, gambling products, or gambling services with income managed funds.
Customers receive the remaining part of their payments as usual, and can spend that money as they wish.
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How Income Management can benefit your business
Once your business is approved to receive income managed funds, it may benefit in the following ways:
- receiving more frequent and regular payments
- improved cash flow
- improved financial planning
- a reduction in overdue bills
- a reduction in the amount of time and/or money spent on administering bad debts and service disconnections.
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Different ways your business can receive income managed funds
There are various ways in which a business can receive income managed funds. These include:
- a direct deduction facility
- manual 'one off' payments
- the BasicsCard facility.
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Direct Deduction arrangements
Once a business is registered for Income Management through either a schedule 4 or schedule 5 Income Management contract, they can receive funds directly in to their bank account. Income managed customers can request to have regular scheduled payments or 'one off' payments made to registered Third Party Organisations (TPO) through this facility.
How to apply
The application process for Income Management deductions is dependent on your business type. To apply for this type of deduction scheme, call the Centrelink Merchant Helpdesk on 1800 039 417 or email im.merchant.help@centrelink.gov.au
To find out more, view the Income Management and your organisation factsheet.
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Manual 'one off' payments
Businesses can also receive payments from income managed customers through manual 'one off' payments. Payments can be made by credit card over the phone, directly in to a nominated bank account via BPAY® or Pay Anyone facilities or by cheque.
How to apply
To apply customers need to contact the call centre 13 2594 or attend their local Customer Service Centre and request a manual payment to your store. They will need to provide Centrelink with contact details, payment and other relevant information so the payment can be made via a manual payment method.
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BasicsCard
The BasicsCard is a PIN protected card, which allows customers to access their income managed money through your business' (EFTPOS) facilities.
This card provides customers with greater choice and flexibility to purchase priority goods and services from a broad range of merchants.
How to apply
To receive income managed funds using the BasicsCard method, you must first apply to become a BasicsCard Merchant under the new BasicsCard scheme. To apply to become a BasicsCard Merchant follow these steps:
Step 1
Download and read the following documents:
Step 2
Complete the BasicsCard Merchant Application. Ensure you:
- complete all relevant questions
- read and sign the Agreement to Participate, complete the account details for merchant payments, and
- attach a printout of a sales transaction from your Point of Sale terminal(s).
Step 3
Fax your completed BasicsCard Merchant Application and Agreement to Participate to 1300 727 760, or post to:
Centrelink
(Attn: Merchant Approval Area)
Reply Paid 1507
Hobart TAS 7001
Step 4
If your application is approved, a Merchant Manual will be mailed to you and will contain information such as: a welcome letter, a copy of the Terms and Conditions, Communication products, general information and important contact details.
Note: If you have any further questions relating to the BasicsCard application process please contact the Centrelink Merchant Helpdesk on 1800 039 417 or email im.merchant.help@centrelink.gov.au
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BasicsCard balance check options
Customers can now check their BasicsCard balance:
- by phone: the Income Management Line on 13 2594 and Freecall™ 1800 057 111 (balance only)
- online: BasicsCard balance enquiry
- in person at your nearest Centrelink Customer Service Centre
BasicsCard balances can now be printed on EFTPOS receipts at participating stores for customers that have opted in for this free and voluntary balance option. Currently this balance option is available at Coles Supermarkets, Coles Express, Target, Target Country, Kmart, Kmart Tyre and Auto Service and BI-LO. Card holders will need to contact Centrelink or access their Self Service facilities to consent to this balance option before it is made available. Card holders can opt out at any time by contacting Centrelink or accessing their Self Service facilities. Other BasicsCard Merchants that are interested in this balance option being implemented in the future should contact their EFTPOS provider and register their interest. Interest can also be registered by contacting the BasicsCard Merchant Helpdesk on 1800 039 417 or by emailing im.merchant.help@humanservices.gov.au
For more information about the balance on EFTPOS receipt service view the FAQs for Balance on Receipt.
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More information
To find out more about Income Management for your business:
- phone the Centrelink Merchant Helpdesk 1800 039 417
- email im.merchant.help@centrelink.gov.au
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