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Overpayment relating to a Controlled Private Trust or Company

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General provisions

    

VEA ?

Secretary may require notification of an event or change of circumstances

Section 54 VEA

VEA ? (go back)

The requirement that pensioners adhere to their responsibilities to notify the department in the event of substantial changes to their circumstances will not change for pensioners with involvement in controlled private trusts and private companies. Pensioners with such involvement will be expected to inform the department in the event of changes in the circumstances of the private company or private trust (ie a 'notifiable event') in the same way as pensioners who are sole traders or involved in a partnership. Pensioners who fail to notify of a change in circumstances or who withhold information from the department may need to be investigated to see whether an overpayment should be raised against them.