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Overview of Rules and Requirements - Special Disability Trusts
Last amended: 27 May 2011
A trustee of a special disability trust (SDT) must meet specific requirements.More ?
An exemption notice can be given to trustees of a trust established before 20 September 2006 if the trust satisfies certain conditions.More ?
The trustee must provide the financial statements of the trust as at 30 June of the relevant financial year.More ?
If a trust becomes non-complying it will be assessed under normal trust and company rules.More ?
The Commission may issue a waiver notice to a non-complying trust for a short time while the non-compliance is rectified.More ?
The trustee must follow an investment strategy which enables the trust to pay for the reasonable care and accommodation needs of the principal beneficiary.More ?
The trust must comply with the determination that sets out the limits on discretionary spending for other purposes.More ?
An audit of the SDT can be requested at any time by the principal beneficiary or other specified people and must be carried out within a reasonable time.More ?
Obligations in relation to special disability trusts
A trustee of an SDT has obligations to DVA in relation to that trust.More ?
Financial year, in relation to a company, means:
- a period of 12 months beginning on 1 July, or
- if some other period is the company's tax year that other period.