Designated private trust | CLIK

You are here

Designated private trust

According to section 52ZZB of the VEA, a trust is a designated private trust unless:

the following conditions are satisfied, that is the trust:

  • units are held by 50 or more persons, and

  • the trust was not created, continued in existence or operated under a scheme that was entered into or carried out for the sole or dominant purpose of enabling any individual/s to avoid Division 11A (means test of private companies and private trusts), section 52ZZB of the VEA or the equivalent section of the Social Security Act, or

  • the trust is a complying superannuation fund: or
  • the trust is an excluded trust.

 

 

Units in relation to a trust, include a beneficial interest, however described, in the property or income of the trust.

There is currently no content classified with this term.