Designated private trust

Determining a designated private trust

A trust is a designated private trust unless:

• all three of the following sub-conditions are satisfied:

• the trust is a fixed trust,    
  More →

  10.3.8/Discretionary Trust, Rural Succession Trust, and Fixed Unit Trust

  More → (go back)
• the units in the trust are held by 50 or more persons, and
• the trust was not created or operated under a scheme that was entered into to gain a Veterans' Affairs or Social Security advantage, or

• the trust is a complying superannuation fund, or
• the trust is an excluded trust.    
  More →

  Legislation Library – Commission Determinations

  Means Means Test Treatment of Private Companies – Excluded Companies – Declaration 2001

  More → (go back)

Once it has been determined that the trust is a designated private trust, then the issue of who controls the assets and income of the trust and the percentage of control to be attributed to the individual(s) can be decided