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Attribution of assets
According to section 52ZR of the VEA, if at a particular time on or after 1 January 2002:
- an individual is an attributable stakeholder of a company or trust,
- the company or trust owns a particular asset (alone, jointly or in common with another entity or entities),
- had that asset been owned by the individual instead of by the company or trust, the value of the asset would not be required to be disregarded by any express provision of the VEA, and
- the asset is not an excluded asset.
there is to be included in the value of the individual's assets an amount equal to the individual's asset attribution percentage of the value of the asset owned by the trust or company.
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