You are here

Trustee Requirements

Document

Last amended: 9 October 2006

    

What are the trustee requirements?

A trustee of the special disability trust (SDT) can be either an individual or a corporation. An individual trustee, or a director of a trustee corporation, must:

  • be an Australian resident,
  • not have been disqualified at any time from managing corporations under the Corporations Act 2001,
  • not have been convicted of an offence of dishonest conduct against a law of the Commonwealth, State, Territory or a foreign country, and
  • not have been convicted of an offence under the Social Security Act 1991 or the Social Security (Administration) Act 1999 or the Veterans' Entitlements Act 1986.

Note: A statutory declaration to this effect is required from each of the trustees or directors of the trustee company. A professional trustee may charge the trust usual and proper administration charges.

How many trustees are required?

There must be at least two trustees at all times, except where a professional trustee is appointed. A professional trustee is either a trustee corporation or an Australian legal practitioner within the meaning of the Legal Profession Act 2004.


According to section 52ZZZW of the VEA, a special disability trust is a trust that has been established solely in order to provide for the current and future care and accommodation needs of the beneficiary who is a person with a severe disability.

 

 

An Australian resident is a person who:

  • resides in Australia; and
  • is one of the following:
  • an Australian citizen;
  • the holder of a permanent visa;
  • the holder of a special category visa who is likely to remain permanently in Australia;
  • the holder of a special purpose visa who is likely to remain permanently in Australia.